Why The Toughest Iran Sanctions On Record Sent Oil Lower, Not Higher
WTI crude fell 3% to $82 after reports Washington offered to lift Iran sanctions and the naval blockade in exchange for reopening the Strait of Hormuz.
When countries talk about easing tough rules on Iran, oil prices went down instead of up because traders think there might be more oil available soon. When people think supply is going to grow, they're less worried about prices staying high.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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