Iran Deal Renewal Question Will Keep Oil Markets On Edge

Investing.com – Oil prices are likely to remain near a 3 1/2 year high as Mideast tensions and geopolitical risk remain high, as traders focusing on Iran as much as Syria.
The immediate question is how Russia and Iran respond to the U.S.-led air strikes on Syria, following a week of political jockeying that sent pries up 16% from their February low.
Traders, however, are also looking for signs as to whether the U.S. will abandon a deal with Iran, which removed international sanctions on the sale of oil in exchange for Tehran cutting back its nuclear program
President Trump has until May 12 to renew or suspend sanction waivers under the deal the U.S and Iran signed in 2015.
A decision not to renew the deal would reduce exports from Iran, one of the world’s biggest oil producers. The big questions for the oil markets are just how much and how fellow OPEC members respond.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.