Oil crashing on Iran deal hopes — bet against energy stocks as crude keeps sliding
Oil just had its worst month in six years. President Trump says a deal with Iran is close, which would mean a lot more oil supply hitting the market and pushing prices even lower.
Idea
Brent crude just suffered its biggest monthly drop in six years, and the catalyst isn't going away. President Trump is meeting in the White House Situation Room to make a final call on an Iran deal. If it goes through, Iranian oil floods back onto global markets — millions of barrels of extra supply per day. Even the possibility has already sent prices into freefall. Oil companies' profits are directly tied to the price of crude, so their stocks tend to follow oil down. With energy stocks still well above their recent lows, there's room for them to fall further as the market prices in a deal.