Oil market heading for cooldown

News: As per Reuters, Iran has signalled that it is ready to immediately conclude a deal with western countries to revive its 2015 nuclear accord.

Views: As per Kepler analystics, Iran has 100 million barrels of stored oil in stationary vessels (and some in-transit). If the agreement is reached, the oil (mostly condensate) would be ready to be delivered to customers such as South Korea (which is a heavy condensate buyer) followed by UAE, China and Japan.

Impact: Positive