"The one factor that could push Brent upwards significantly is what the IAEA decides and then what Iran does in response. This probably won't affect things today but next week we could see an upturn. However, if the news is not particularly significant I think on Monday we'll see a continuation of the sell-off from the past three days as funds continue to sell," - a trader said.

See more industry/OPEC viewpoints at http://www.platts.com/Oil/Resources/Quote%20of%20the%20Day/