Markets have steadied as investors weigh early progress in Iran peace talks and a U.S. decision to allow some Iranian crude sales. A U.S. 60-day license permits the sale of limited volumes of Iranian oil and petroleum products. Rebecca Babin, managing director and senior energy trader at CIBC Private Wealth Management, said, "The road to a deal remains long; however, markets may price in a supply glut before it arrives — just as they sometimes anticipate shortages before they materialize — oil p

Markets have steadied as investors weigh early progress in Iran peace talks and a U.S. decision to allow some Iranian crude sales. A U.S. 60-day license permits the sale of limited volumes of Iranian oil and petroleum products. Rebecca Babin, managing director and senior energy trader at CIBC Private Wealth Management, said, "The road to a deal remains long; however, markets may price in a supply glut before it arrives — just as they sometimes anticipate shortages before they materialize — oil prices often overshoot."