Oil tumbles on US-Iran deal framework: How one trader is playing the move

Washington and Tehran appear to have a deal. Critically, the framework being discussed would release Iranian funds, allow the Strait of Hormuz to be reopened, enable Iran to sell oil freely, and begin nuclear negotiations. The news is causing oil prices to fall to their lowest levels since April, which is good news for airline investors. The equation is simple: more oil through the Strait means more supply, and more supply will ease jet fuel prices. …