For Oil, the Iran Deal Won't Change Much

Why isn't oil down more? It's a legitimate question, given that the Iranian deal isn't just about some oil being added to the market. This is about the odds that Iran, the biggest trouble-maker in the Middle East, is most likely to block up the Strait of Hormuz -- where 20% of the world's oil must travel through -- and the prospect that it will no longer do so.

I do not believe this was a surprise agreement. The oil traders -- in addition to, at times, apparently rigging the entire market -- seemed to know what was up well ahead of time. It would appear to me that the following is the reason oil hasn't gone through $90 per barrel yet, as so many have been waiting for: Real economic demand for oil is blunting the decline at these levels....413 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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