Oil can’t get off the canvas

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Despite a weakening U.S. dollar wafting smelling salts under the nose of the crude market, prices are still unable to pick themselves up off the canvas, heading lower for a sixth consecutive day. Hark, here are five things to consider in the crude market today.

1) There’s a couple of tidbits out about Iran today, which has sent me delving into our ClipperData to see the lay of the land. While much is being made of Iran’s ramp up into Asia, and specifically India, China is the largest recipient of Iranian crude in the first half of the year – double that of India at