 Oil Market: The Moment of Truth Brent is back at $117 — and this is not the limit. I break down the key signals from this morning. 1. The Iran factor — the main nerve Brent fell below $100 during the European session on Thursday, reversing the morning rally. The market is jittery from rumors about a US-Iran deal. Every piece of news triggers a $3-5 move. This is not trading, it's roulette. 2. Asia in a plastics crisis The oil shortage has hit the supply chain: medical goods, packaging, consumer goods. No oil means no plastic. No plastic means industrial paralysis. Asia is the first swallow, Europe is next. 3. Shell hit the jackpot The supermajor reported Q1 results above expectations — the war in Iran brought trading superprofits. Classic: while some fight, others profit. 4. EU abandons ecology Methane rules for oil and gas — suspended. The energy crisis is stronger than the climate agenda. Reality beats ideology. 5. Australia nationalizes gas The government has mandated LNG exporters to reserve 20% for the domestic market. A sign: the deficit is becoming systemic. My conclusion: the market has entered a phase of structural deficit. The Iran deal may provide a temporary respite, but fundamentally supply lags demand. Asia and Europe will fight for every barrel. Analyzing markets in real time — https://asibiont.com/