Oil prices slide as Trump says the U.S. is close to an Iran deal
Energy
Trump signaled the U.S. is close to an Iran nuclear deal, sending oil prices lower on the prospect of additional Iranian crude supply re-entering global markets. If a deal materializes, roughly 1-1.5 mb/d of Iranian oil could add to an already-softening supply picture, structurally pressuring Brent and WTI into year-end.
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Angle
↓ SHORT-5% target+3% stop1-3 weeks, into any formal deal announcement
Short USO / XLE on Iran-deal headline — incremental supply overhang hits E&P names hardest with no enrichment floor to push back.