Brent oil recovered some recent losses in line with easing Chinese fears last night up 3% at $58.53 as I write. News is all Iran with last minute scuttlebutt all over the place. Expect a deal. The impact will be material over the longer term, from Citi:
Given the globe is currency in surplus by 2 million barrels per day the return of Iran could increase it 50% within a year.
H2 is shaping up weak for oil:
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