Putin Warns West as NATO Targets Russian Energy Infrastructure, Tucker Drops Bombshell | Redacted

One factor that could keep pressure on oil prices is the return of Iranian crude to the market. Iran reportedly has roughly 120 to 150 million barrels of oil in storage and could increase exports as sanctions are eased and shipping lanes reopen. That won't flood the global market overnight, but combined with the reopening of the Strait of Hormuz, it removes much of the war-driven premium that had been supporting higher energy prices. The question now is whether this is a temporary reprieve during a 60-day negotiating period or the beginning of a more permanent shift in global oil supply.