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Industry News / Markets

Oil surges 3.6%, settling at $70.53, after US says crude buyers must cut Iran imports to zero

Published in Industry News, Markets

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  1. The swings in recent days are a bit surprising, as all of the factors that are being used as the “reason” for the swings are all known data points. We knew that Iran imports were going to zero, and we all had a really good idea that OPEC, Russia and others would increase output to pick up the slack left by Venezuela… Can someone explain to me why the traders react to heavily on this news?

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