crude oil eia US weekly inventories out this morning. +4.8M on crude oil, but -4.3M on gasoline...
The total of both was about +10M in dec, then about +7M in jan, feb, then +4M in last report and +0.5M this week. Clearly the falling weekly rig counts start to show up and we are in the refineries maintenance season. When they return to full capacity next month, we see negative crude oil inventories. Very bullish report today. WTI at $50 now and brent abve $57,+4%.
Report: https://ir.eia.gov/wpsr/wpsrsummary.pdf
WTI: https://www.investing.com/commodities/crude-oil
Brent: https://www.investing.com/commodities/brent-oil-streaming-chart
On the Iran deal side...what deal? it's clear Iran doesn't want to cooperate, they gain time and US will save face for now with a deal to postpone a deal...
https://www.telegraph.co.uk/news/worldnews/middleeast/iran/11508392/Iran-nuclear-talks-have-reached-framework-of-understanding-says-Philip-Hammond.html
All IMHO.