A lot is going on in oil the market.
In the latest development, Hedgeye Senior Energy Policy analyst Joe McMonigle offers insight on President Trump's OPEC tweet this morning. In particular, McMonigle weighs in on the Iran oil deal and what lies ahead if the U.S. kills the deal in May.
McMonigle has been warning about the Iran deal for over a year now and predicted that the deal was going to end this year.
"Since the sanctions were lifted, Iran has added about a million barrels a day in crude exports," says McMonigle. "We think all of that one million barrels a day is at risk."