Oil prices rise on China recovery and Iran deadlock

China’s recovery from market panic and continued impasse over Iran nuclear program trickle down to oil markets.

NEW YORK—Oil prices climbed Thursday as Chinese stocks rebounded, easing concerns about China’s economic growth, and expectations of higher Iranian crude-oil exports receded.

Chinese shares made their biggest daily gain in six years Thursday. Measures deployed by the Chinese government, including trading suspensions and cheap financing, restored some stability after several weeks of heavy losses.

In Vienna, meanwhile, nuclear talks between Iran and six world powers have so far failed to make a breakthrough

If the talks pass Thursday’s deadline without an agreement, the U.S. Congress will have an extra month to review the deal—delaying the potential lifting of sanctions on Iran’s crude exports.

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This article was written by Nicole Friedman & Matthew Cowley for The Wall Street Journal on July 9, 2015. Nicole Friedman covers energy markets for The Wall Street Journal. Matthew Cowley is the Brazil bureau chief for Dow Jones Newswires. Coverage areas include the economy, politics, finance and companies, as well as general news about Latin America’s largest nation.