Oil in freefall on Iran deal hopes — short energy as supply flood looms
Oil prices just suffered their worst month in six years as President Trump signals a final decision on an Iran nuclear deal is imminent. If the deal goes through, Iranian oil could flood the global market.
Idea
Oil has already been in freefall — Brent just posted its worst month in six years. But the full impact hasn't hit yet because the Iran deal isn't officially signed. When it is, Iranian crude could add over a million barrels per day to global supply, which would push prices even lower. Trump said he's heading to the Situation Room for a final call, meaning an announcement could come any day. Energy stocks like ExxonMobil and Chevron would take another leg down alongside the commodity. This is a catalyst-driven trade where the worst may still be ahead for oil.