US efforts to rein in Iran's nuclear program have moved out of the spotlight, but the administration of President Joe Biden continues to pursue a diplomatic solution in hopes of staving off geopolitical unrest and military conflict that would roil global oil markets and worsen the ongoing energy crisis. With Iran's crude and condensate exports topping 1 million b/d despite US sanctions, any disruption to those exports — either through tightened sanctions enforcement or factors that limit Iran's production and export capabilities — would have a bullish effect on the oil market. "Given the administration's redline of ... (full story)