market. the notion of the sanctions changing on july 1, is a big deal. let's go to julie hyman looking at the oil market. julie is not good right now. let's talk about what is going on right here. we've already heard from the eu as well as the foreign minister of iran. let's summarize what we've just heard. fundamentally, they will find new ways to put to use the uranium they have including a development center there in iran. and they will hammer out the details of a final agreement over the worst of the next three months with the expectation of a deadline june 30. fundamentally the broad outlines of an agreement, to limit the capacity of enriched nuclear materials, the uranium has been reached there in switzerland. we have iran agreeing to limit production of the same time that the eu and the world powers have agreed to lift sanctions. the lifting of those sanctions will not take place until july 1.