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Phillip Streible of RJO Futures discusses the recent report showing that Iran may halt its nuclear program to relieve stress from oil sanctions.
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Reports surfacing that Iran is considering halting its nuclear program to avoid EU sanctions.
That would involve.
And Loyola bark out any oil coming out of the country joining me now CMA -- they'll -- Of our day of futures if you take a look at oil it is down a little bit why not more if this is a reality our potential reality.
Well what the initial.
Proposal was for -- to cut the expansion of new nuclear facilities and also.
The machinery that's used in order doing rich in your premium -- already had some facilities that are set off.
Today they propose that they would stop utilizing those but who really knows what's gonna go on inside Iran so the initial reaction.
-- -- dollar decline.
Palm I think the price is the most likely stabilized now remember I -- is months away -- that's with the speculation us from having like a weapons grade.
Type uranium so they don't have that yet I think as long as they.
Do you know prohibit people from coming in inspecting these facilities and really you -- dismantling shut things down oil prices are gonna still maintain over a hundred dollars.
But we got durable goods orders here in the US the biggest drop in more than three years and you still don't see a real calm down and oil what did it take to get oil under.
And -- talk about -- WTI.
Under a hundred bucks a derelict.
-- it's really interest thing I mean.
News though oil supplies have been continued and increase week after week -- saw.
Another major built here up over four million barrels today I think it's old gasoline really starts to break down takes out.
-- three dollar range I think oil prices are gonna continue to maintain higher prices but speaking up gasoline -- -- gas futures we have seen a tumble in recent trading days.
Where do you think that takes the national average for our regular unleaded as it -- everyday driver looks at a.
Well I've been Donald seven of the last eight days gasoline prices the futures contracts are really selling off well you've got -- couple refineries oversight to shut down in the East Coast.
Those are maintaining back -- line and proposal would be sold.
On the sonoco is but now 335000.
-- barrels per day -- gasoline that inventory is starting to build and some of the US and European.
-- refiners are starting to come back outlined for maintenance.
I think that were a couple weeks I'll go before gasoline prices for though pump and for the -- retailer to really feel it.
You don't feel that pressure come off the wallet.
Thanks illustrate -- great to see you 384 is -- national average we'll take it tank full of box thank you --
