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The oil slide on the Iranian deal dragged the risk appetite down

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The oil benchmarks came under pressure opening the new on downside gaps, after the beginning of implying the Iranian nuclear deal which should flood oversupplied market by another 0.5m barrels daily initially, before increasing by 1m barrels a day within 6 months, as the Iranian National Oil Co. has said. The deal hurts the income of the other gulf rivals because this new pumped ample of oil to the market comes from the same region, as a real competitor to the productions of these nations

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