What Is Keeping Oil From Breaking $70?

5 Jan 2018   Prices

The protests in Iran have helped push oil prices up to fresh multi-year highs this week, but a lot of questions remain about the durability of the oil price rally. Repeated and ongoing protests in various cities around Iran has raised questions about a possible disruption of supply, which, to be sure, remains highly unlikely. But the needling from the U.S. President’s Twitter account added fuel to that fire, helping to keep the price rally going. The war of words probably makes it even more likely that Trump will take a rather dramatic move in less than two weeks when he faces the latest deadline over deciding on Iranian sanctions. Every three months, the U.S. President must waive sanctions on Iran related to the 2015 nuclear agreement (authority given to him per U.S. law, not the international agreement). Trump decertified the nuclear deal in October, but it was only […]

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