Article on Bloomberg
This article on Bloomberg makes the point that the oil market has pretty much priced in a US withdrawal from the Iran nuclear deal. So, if and when, the US pulls out of the arrangement it would result in a sell the fact scenario. The deal has a deadline of the 12th of May and this presents both a risk and an opportunity for Oil traders. (See Justin's heads up earlier).
To say that the market has priced in a no deal seems a bit premature. As I type WTI crude is testing Asian session highs at 70.66. We have a few days to go and Boris Johnson is heading over from the UK to try and twist Trump's arm to not pull out of the deal. However, a sell the fact scenario is worth bearing in mind come markets opening next week. For now though, buy the rumours...
...and if I can keep talking my book until 71...:-)
