In case you missed the news over the weekend:
- Biden restores Iran civilian nuclear sanctions relief in sign of deal progress. Watch oil
- Oil - Biden took a step towards thawing relations with Iran over the weekend
It looks like with European traders entering, we're seeing more of a reaction now after a bit of a calmer reception in Asia.
Just be mindful that the headlines are coming as oil locked in seven consecutive weekly gains last week. That's quite a run and we might be seeing a timely retracement/correction after the unrelenting run in the past few weeks.