- West Texas Intermediate was 1% lower Monday morning after thousands of flights over the holiday weekend were canceled
- Rising COVID-19 cases caused U.S. airlines to cancel more than 1,000 flights on Sunday (Reuters)
- The number of available flight crews was limited to due mandatory quarantine periods
- Nuclear talks between Iran and world powers resume in Austria on Monday, with the main focus being the lifting of all U.S. sanctions in a verifiable process, Iran’s foreign minister said
- “The most important issue for us is to reach a point where, firstly, Iranian oil can be sold easily and without hindrance,” Iranian media quoted Foreign Minister Hossein Amirabdollahian as saying (Reuters)
- AEGIS notes that Iran has about 1.5 MMBbl/d of oil exports that could hit the market if a full deal is reached