MarketPR
The oil market has pivoted sharply away from its Iran-driven worst-case scenarios, with fears of summer shortages and $200-a-barrel oil fading in favor of a new and opposite concern: a looming supply glut.
The crisis that once looked capable of squeezing global barrels has instead left traders watching for excess.
From $200 Fears to Oversupply Watch The market's swift reversal in sentiment marks one of the more striking mood shifts in recent memory for crude.
Analysts and traders who had been pricing in a potential supply shock tied to the Iran situation are now focused on the other end of the spectrum — too much oil rather than too little.
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