Oil Markets Remain Unsettled Amidst Mixed Signals and Uncertainty.
TL;DR Summary
Oil markets are experiencing volatility due to mixed data, with the latest EIA report showing both bullish and bearish drivers. While crude refining has hit the highest level since August 2019, U.S. crude production has also hit the highest levels since April 2020 while crude exports have declined. Reports of Iran resuming oil exports after a nuclear deal could ease sanctions, but it remains to be seen how realistic Iran's oil ambitions are and how much they will impact the market.
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