“The oil market’s mostly focused on U.S. supply data this week, but next week should be all about Iran and the deadline for a final agreement over its nuclear program. If a deal between Iran and six world powers is reached by the June 30 deadline, Iran could soon start dumping millions of barrels of oil into the global market, ushering a quick return of $50 oil prices. “Iran has at least 34 large tankers full of oil — about 50 million barrels or more — ready to “sell and sail” if sanctions are lifted, said Byron King, editor of investment newsletter Outstanding Investments.”

Source: marketwatch.com