This historic outreach between the US and Iran is impressive. All over the news. These guys want to make a deal. Iranian oil should come back to the market in a big way. The market will anticipate this. Syria is no longer an issue. Looking for crude to break $100 on way to $95 a barrel by Monday.
I would be scared to death if I was long crude right now. Once people start dumping, stops and margin calls kick in. This at a time when we are at 5 yr highs in supply, tons of Shale oil, potential keystone pipeline in Budget deal. This is the short play of the year.