a lot of funds dumping today, afraid of longer term lower oil prices. I will stay with BPT and other oils since the unforeseen will keep oil in demand. Iran oil will have little affect since it was shipping to china, vietnam and india during the embargo.
You do understand that oil is a fungible commodity? So anytime you have an additional source/supply then prices will weaken. It appears global growth has stabilized and is improving which will have a very positive impact on oil demand. Predicting the trend in oil prices is difficult. I have a very good gain in this position, not so sure I would hold for another swoon to 52 week lows.