The Brent oil price fell overnight to $55.30. The main driver is the wait for the outcome of the Iran deal. More on that is available here and here. I’ll be surprised if talks fail but we shall see.
In other news, US shale is powering on, from the FT:
US independent oil and gas companies have raised a record amount from share sales in the first three months of the year, as they seek to shore up their balance sheets following the plunge in oil prices since last summer.
