"The most painful sanctions, affecting Iranâs oil and banking sectors, would remain until the end of the dealâs first phase" "The Iran deal has no impact on current oil sanctions... it DOES however allow Iran to sell their gold" "The accord should unlock 800,000 barrels a day (b/d) of global supply by next year in a market of 89 million, rising over time as foreign firms return and the countryâs ruined oil industry comes back to life. Export curbs will stay in place for another six months but a planned escalation of curbs will not occur."
v nice, i went long at 9390, out at 9414 just now lost on a couple of other intraday trades though, about breakeven overall kept my token long though
Decent day. Could have been a VERY good day, but on 3 occasions, I let +20 tickers run back to breakeven for scratch trades.
<b>Iran sanctions deal to unleash oil supply but Saudi wild card looms</b> http://www.telegraph.co.uk/finance/...ash-oil-supply-but-Saudi-wild-card-looms.html ---------------------------------------------------------------------------------- 1/ Citigroup said the Geneva deal should <b>cut global oil prices by $13 over time, enough to depress Brent crude below $100 and US crude below $85.</b> 2/ The US energy department said North America will add 1.5m b/d of oil supply this year, mostly from shale, and 1.1m b/d next year. 3/ This new supply is coming just as Iraqi Kurdistan opens a new pipeline to Turkey. Iraqâs output crashed to 2m b/d over the summer as al-Qaeda attacks reached a crescendo, but Baghdad claims output is poised to recover. The International Energy Agency expects Iraq to triple supply to 6m by 2020. 4/ Goldman Sachs and Bank of America have both warned over recent days that crude prices will slide in 2014, much to the alarm of states that depend on oil to make ends meet. <b>The âfiscal break-even pointâ needed to balance budgets is near $120 for Bahrain, Nigeria and Algeria, and $110 for Venezuela, and Iraq.</b> 5/ <b>Oil duties furnish half the budget in Russia where the break-even price reached $117 last year</b>. Moscow is tightening its belt but <b>Fitch warns that it may downgrade the country if there is a prolonged fall in crude prices</b>. 6/ Mr Skrebowski said Riyadh may try to ârap Americaâs knucklesâ <b>by flooding markets with enough oil to puncture the US shale oil revolution. Production costs at the US Bakken shale field are around $80.</b> It is unclear whether the Saudis still have the spare capacity to pull off such a feat, or whether other Gulf OPEC producers would join forces in a replay of the Arab oil embargo of 1973. The Saudis have played a responsible role over recent decades as the swing force in global markets ensuring stability.