Oil holds near $100 after President Trump's Iran comment
Oil prices are hanging around the $100 mark, even after their biggest weekly drop since April.
The dip happened when President Trump said Iran's nuclear plans would need US approval. This stirred up uncertainty in the markets.
Still, both Brent crude and US WTI prices managed a small bounce back today.
Brent near $99 WTI near $91
Brent is back up to about $99, and WTI is close to $91, thanks partly to hopes that tensions with Iran might cool down as they consider new proposals.
But oil markets are still feeling squeezed: global onshore stockpiles have fallen to their lowest in at least a decade, and governments' strategic reserves are at their lowest since the 1980s.
Managing Director and Head of US Equity Strategy at Citi Research Scott Chronert points out that if the US keeps things chill with Iran, oil prices could fall even more.