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.

Gold prices offset the earlier part of the incurred losses due to the increase in the dollar after the promise collapse Iran 's nuclear program in exchange for partial

abolition of international sanctions.

Iran's government has agreed with six world powers on curbing its nuclear program in exchange for a reduction of economic sanctions , the overall benefit of which will be about $ 7 billion in this transaction also received government relief sanctions relating to the supply of oil, cars and precious metals in the six months .

Stocks of the world's largest exchange-traded fund backed by gold (ETF) SPDR Gold Trust on Friday fell by 4.5 tonnes to 852.21 tonnes - the lowest level since February 2009 . Investors fear that the Fed will reduce the amount of bond buying , known as " quantitative easing " , in December , relying on the strong economic performance of the United States.

Traders were also watching the situation in the East China Sea : Japan and the United States condemned China's plans to introduce new rules on the use of airspace over the islands , which are subject to the territorial dispute China and Japan. Increased tension will increase the attractiveness of gold as a safe investment and will increase prices.

The cost of the December gold futures on the COMEX today dropped to $ 1225.70 per ounce , and then rose to $ 1244.40 per ounce.