Right now, oil bulls are definitely having a tough time, but this agreement is just way too overplayed. At least two potential turning points ahead: 1. The fastest would be right after the FOMC meeting when the deal might fall apart. Just hang in there until the Fed meeting and wait for some dovish remarks. 2. Around 60 days before/after the enriched uranium resolution clause, something might go wrong. From the perspective of spot oil and inventory, a rise in oil prices is inevitable, but it’s hard to beat the strong futures control of financial capital. So, always set a stop-loss when trading.