International Petroleum Week, the annual gathering of the oil industry in London, traditionally is a binary event for oil price sentiment: bullish or bearish, with little room for moderates.
But this year, there was only one view. The cocktail parties and dinners in London’s upmarket Mayfair district were dominated by the bulls.
“It is all about Iran. Full stop,” a veteran of many an IP Week told me, summing up the oil industry’s sentiment at the meeting.
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