Oil had already pulled back to about where it was before that historic intraday price run up following the Saudi explosion, but this morning in the premarket, oil suddenly pulled back 2%. To our shock and surprise, apparently all sanctions on Iranian oil were to be lifted!
Can you imagine! After all this saber rattling, drones getting shot down, and rhetoric, peace was now finally upon us! After decades of sanctions, suddenly they are finally to be lifted!
Of course, this turned out to be completely untrue. We will have to stay tuned for further updates, but it’s probably pretty safe to say at this point that no, Iranian sanctions are not to be lifted