Iran may drain offshore crude oil cache if nuclear deal reached – Bloomberg

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“Progress toward an Iranian nuclear deal has thrown the spotlight onto a sizeable cache of crude held by Tehran that could be swiftly dispatched to buyers in the event an agreement gets hammered out,” said Bloomberg during a news published early Monday.

Despite the price-negative news, WTI refreshes its intraday high near $93.85 amid concerns that the US-Iran trade deal is far and unclear.

Also read: WTI struggles around mid-$92.00s on US-Iran deal, recession concerns

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