Crude oil sold off on Friday and opened lower in Asia today following the news that sanctions against Iran had been lifted. Iran is now free to sell as much oil as it can to whoever it wants. The initial market reaction makes sense considering the initial flood of oil from on- and offshore storage facilities.
from Ole Hansen - Authored content https://www.tradingfloor.com/posts/oil-lower-after-lifting-of-iran-sanctions-6908154?utm_medium=tf4-feed&utm_source=extract
Oil lower after lifting of Iran sanctions
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