Both Brent and WTI took a dive lower in the early afternoon following Bloomberg report. The news agency said that Saudi Arabia is ready to boost oil output in case Iranian exports collapse. Let us recall that Donald Trump announced yesterday that there will be no new waivers allowing some countries to keep buying Iranian oil. Brent (OIL) dipped towards $74 handle in response.
Oil pulls back following reports on Saudi Arabian output
Apr 23, 2019