While the market is initially celebrating a historic deal with Iran there may be other geo-political risk factors and doubts that may subdue the celebration. Oil traders are giddy because they believe this will open the door to more Iranian oil.
Oil prices had the shackles removed and spiked higher after the Republicans caved and agree to a bill that will raise taxes on families that earn over $450,000. Of course for oil bulls any deal is better than no deal.
Natural gas pops on a last blast of snow and cold at the end of April. A nor’easter seemed to give natural gas bulls hope that perhaps a bottom may be in for natural gas or perhaps it is just a snow job.
