Markets Not Surprised by Iran Oil Sanction Waivers, Schork Says

The video discusses the anticipated reduction in Iranian oil exports due to sanctions, estimating a decrease by a million barrels. It highlights the impact of waivers and the market's reaction, including a speculative bubble in oil prices. The market had anticipated these sanctions, leading to a rally in oil prices, which is now deflating.

What was the market's reaction to the waivers granted by the administration?

How did the oil prices behave in anticipation of the sanctions going into effect?