The market had become a bit too comfortable, expecting a diplomatic solution in Iran.
The market has had a decent run-up in the past few sessions so we may see a bit of consolidation, but I don't expect it to be a sustained dip in prices.
Something that could have squeezed supply a bit tighter would be a sustained cold snap and there just hasn't been the cold weather in the U.S. yet to test out just how well the market can supply.