Have Oil Markets Suddenly Turned Bearish?

Oil and natural gas prices have fallen over the past few days thanks to a trifecta of bearish catalysts: Warm weather, Putin’s natural gas intervention, and an agreement to resume talks in Vienna about Iran’s nuclear program. After trading above $85/barrel for the first time in seven years, Brent prices were quoted at $83.60 on Thursday while WTI prices dropped to $82.50. However, natural gas recorded the biggest fall, with prices falling 6.3% to trade at $5.81 per MMBtu. The latest EIA report and Standard Chartered commodity update…