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Oil turns lower after Tillerson firing

Published 03/13/2018, 01:48 PM
© Reuters.  Oil turns lower after Tillerson firing
  • Quickly becoming the common wisdom is that Trump's firing of Rex Tillerson at State clears the way for the president to make good on his promise to withdraw from the Iran nuclear deal.
  • That's theoretically bullish for oil prices, given a sizable decline in oil exports as sanctions go back in place for Iran, but Saudi Arabia and others have enough spare capacity to make up for any deficit.
  • Oil has given back about $1.50 per barrel since the Tillerson news, now down 1.3% today to $60.56. USO -1.3%
  • ETFs: USO, OIL, UWT, UCO, DWT, SCO, BNO, DBO, UGA, DTO, USL, DNO, OLO, UHN, SZO, OLEM, WTIU, OILK, OILX, WTID, USOI, USOU, USOD, UBRT, DBRT, OILD, OILU, USAI
  • Now read: Crude Oil Looks Amazing - Is It Time To Dip A Toe In On The Short Side?


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