Oil dips on old news

Oil has dipped on a CNN headline saying that Iran has dropped another key demand as prospects for a nuclear deal improve (link).

Right in the story, it notes that Reuters already reported earlier today that Iran dropped its demand that the International Atomic Energy Agency had to close its investigation of undeclared nuclear material found at Iranian sites in 2019.

So this is old news being republished and naturally the oil market is moving anyway. That goes back to my old joke that you don't need to be literate to trade oil.

Update: Separetely, a WSJ report is crossing that reaffirms another Reuters story from earlier today:

Several OPEC members also told The Wall Street Wall Street Wall Street is part of the Financial District in New York City and one of the most iconic streets in the world. It is synonymous with US financial markets, and home to the world’s two largest stock exchanges by market capitalization – the New York Stock Exchange and NASDAQ.The area is also home, be it presently or historically to many other key exchanges. This includes the New York Mercantile Exchange, the New York Board of Trade, the New York Futures Exchange (NYFE), and the former American Sto Wall Street is part of the Financial District in New York City and one of the most iconic streets in the world. It is synonymous with US financial markets, and home to the world’s two largest stock exchanges by market capitalization – the New York Stock Exchange and NASDAQ.The area is also home, be it presently or historically to many other key exchanges. This includes the New York Mercantile Exchange, the New York Board of Trade, the New York Futures Exchange (NYFE), and the former American Sto Read this Term Journal on Tuesday that they might back a reduction in output, particularly if a global recession materializes.