Sources cited by Reuters
Oil has been on the move this hour and is up $0.35 to $66.55. It’s flirted with this area a bunch of times in the past few months but at this level it would be marginally the best closing level since 2018.
The Reuters report mentions Iran’s oil as an x-factor. OPEC has just under 6 mbpd in spare capacity and it’s coming back to the market, the question is how patient they will be.