Israeli Prime Minister Benjamin Netanyahu declared Tuesday that a deal being negotiated between world powers and Iran would leave Tehran free to develop nuclear weapons. In an impassioned address to the US Congress, conducted even as Secretary of State John Kerry was in talks in Switzerland with his Iranian counterpart, Netanyahu branded Iran a global threat. "That deal will not prevent Iran from developing nuclear weapons," he said, placing himself in stark opposition to US President Barack Obama's policy of containing Iranian ambitions through a diplomatic accord. "It would all but guarantee that Iran gets those weapons, lots of them," he said.
Oil rebounded on Tuesday from the previous session's tumble, lifted by fighting that threatened Libya's oilfields, although U.S. crude struggled to hold to gains due to record crude inventories. Higher prices imposed by Saudi Arabia for its crude buyers in Asia, the U.S. and northwest Europe did not immediately boost benchmark Brent and U.S. oil futures, although some traders saw the move as supportive. The U.S. market was also under pressure from a spread play versus Brent as players bet on it to decline further before inventory data issued by the government-run Energy Information Administration (EIA) on Wednesday. Industry group American Petroleum Institute will run its own stockpile data at 4:30 p.m. EST on Tuesday, ahead of the EIA numbers.
Thousands of mourners turned out Tuesday to pay a last homage to slain Russian opposition leader Boris Nemtsov, gunned down near the Kremlin in the most stunning assassination of Vladimir Putin's rule. Crowds thronged the Russian capital to mourn the 55-year-old former deputy prime minister, a longtime Putin critic and anti-corruption crusader who was laid to rest at a Moscow cemetery. The funeral caused a fresh spat between Russia and the European Union, which condemned what it called "arbitrary" bans after Russia blocked prominent figures from Poland and Latvia from attending. Russian opposition leader Alexei Navalny was also unable to attend as he is behind bars, but speaking from jail he accused "the country's political leadership" of ordering a hit on Nemtsov.