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Iran’s decision to abandon limitations on enriching uranium is a concerning development and the UK is urgently speaking to parties about what to do next regarding the reciprocal nuclear deal, British Prime Minister Boris Johnson’s spokesman said on Monday.

“We have no plans to place sanctions on Iraq,” the spokesman added. “The UK and the US have a very strong relationship on security and other matters.

These comments were largely ignored by the market participants and the barrel of West Texas Intermediate was last seen trading at $63.85, adding 1.35% on the day.