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Oil: Iran Sanctions Set to Spur Crude Prices Higher

Today, President Trump is expected to announce his decision on whether or not to exit the Joint Comprehensive Plan of Action with Iran (colloquially referred to as the “Iran Nuclear Deal”), ahead of the May 12th deadline to extend waivers for sanctions on Iranian exports. The suspension of these sanctions began in 2015 after then-President Obama negotiated the deal, meant to create strict restrictions on the country’s nuclear program. Trump, however, has long speculated that Iran has continually violated the deal, and promised in his campaign to withdraw the US from the agreement. There is a p...

 

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