Oil fell

Brent crude led energy prices from gasoline to heating oil lower after Iran and world powers reached an interim accord on the country’s nuclear program.

The European grade slid as much as 2.7 percent, narrowing its discount to West Texas Intermediate. The agreement signed yesterday in Geneva limits Iran’s atomic program in exchange for as much as $7 billion in relief from sanctions over six months. Iran’s oil exports will be held to about 1 million barrels a day under restrictions that remain in force.

The agreement was reached after foreign ministers from the U.S., Europe, China and Russia made unscheduled trips yesterday to Geneva to push the third round of talks in six weeks to a conclusion.

Brent for January settlement decreased $1.63, or 1.5 percent, to $109.42 a barrel at 10:11 a.m. on the London-based ICE Futures Europe exchange after falling to $108.05. The volume of all futures was 25 percent above the 100-day average.

WTI for January delivery fell 96 cents, or 1 percent, to $93.88 a barrel on the New York Mercantile Exchange. Volume was near the 100-day average. Prices ended last week’s trading up for the first time since the seven days ended Oct. 4.

Brent, the benchmark for half the world’s crude, narrowed its discount to WTI to as little as $14.32 from Nov. 22’s $16.21, the widest gap since March 14.