Now that sanctions have been lifted on Iran, and if they can follow through by ramping up to 1 million bpd to its existing output by the end of the year as they have stated, then I might start thinking to go long on crude oil the closer it gets to $19.

Or, with Iran undercutting Saudi Arabia prices for European market share, it will be interesting to keep an eye on how this will play out. Is it going to be a bidding war or will Saudi Arabia through OPEC throw in the towel like other countries in OPEC want-- to escalate prices.
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The world will not be destroyed by those that are evil, but by those who watch them without doing anything.- Albert Einstein

No you can’t have my rights---I’m still using them