Courtesy of Mish.
Futures this evening show Brent Crude is just over $28 a barrel, down another 3.4 percent. At one point futures were below $28.
Meanwhile, US West Texas Intermediate (WTI) sits at a relatively firm $29.84. The key word being “relatively”, not firm.
Sanctions Lifted
The Wall Street Journal reports Iran’s Sanctions End as Deal Takes Effect
“The EU has confirmed that the legal framework providing for the lifting of its nuclear-related economic and financial sanctions is effective. The United States today is ceasing the application of its nuclear-related statutory sanctions on Iran,” said EU foreign policy chief Federica Mogherini, reading the joint statement.
The Guardian reports Lifting of Iran Sanctions is ‘a Good Day for the World’.
I agree, having previously commented “Obama’s deal with Iran was the single best thing he has done in eight years“.
Warmonger Republicans and Israel would not agree, but most of the world is on my side.
Winners and Losers
The end of sanctions does mean that Iran will be free to sell its oil.
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