Trump is out of the Iran nuclear deal. @Bloomberg, ThinkMarkets, @NaeemAslam23His decision to pull out of the Iranian nuclear deal could have much larger widespread implications than only an increase in the oil price. France, Germany and the U.K. all implored Trump to remain in the landmark deal forged under Barack Obama’s administration. Iran has an important role to play here: it is the third biggest oil producer of OPEC cartel, and leading up to this event, we have witnessed panic amidst traders who pushed the price of oil higher. The Saudis, to take one example, want the oil price to reach $80b/pd and only a lower supply could help them to achieve that.

Source: Forbes May 09, 2018 08:37 UTC