While the Kurdistan-Iraq standoff is a risk to shorter-term oil production, the increased tensions between neighboring Iran and the U.S. are a longer-term and bigger threat to global oil supplies, according to Goldman Sachs. On Friday, U.S. President Donald Trump said he was officially withdrawing his certification of Iranian compliance with the nuclear deal, in what is being billed as part of a tougher strategy on Iran. President Trump passed the nuclear deal back to Congress to review and amend the law. “That is why I am directing my administration to work closely with Congress and our allies to address the deal’s many serious flaws so that the Iranian regime can never threaten the world with nuclear weapons,” President Trump said . The tougher stance from the U.S. may lead to more sanctions and to a prolonged tension between the U.S. and Iran. “In the case of Iran, there […]