Today's price of oil is based on future supply trend, and not present supply. Yes the market is still soaked in oil, but if the future is slightly LESS soaked, for any perceived reason, the price will move upward. That's why the price of oil today is based on futures.
I'm making no predictions - just stating what some here may not know.
Iranian oil is considerably lower quality than most oil due to a few factors. One of these is their failure to properly maintain the underground reserves. They've tried to produce "more" and not necessarily kept the wells healthy. Yes, it still adds to supply for the local region, and it's worth mentioning they have no gasoline refinery.
Just throwing a few facts out there. If I were betting I'd call Iran insignificant and I'd pay more attention to domestic well count and "The Kingdom of Saud's" policies... for however long they can hold that cartel together under this pressure.
Sentiment: Long through April - watch out for the Fed, folks. Some of that is baked in, but June could be bad for Long oil.