The world’s oil producers and their customers entered a new period of uncertainty Monday as renewed US economic sanctions against Iran took effect.
Having withdrawn from the seven-nation deal negotiated under his predecessor to curb Iranian nuclear efforts, President Donald Trump is aiming to pressure Iran to curb its political and military activities across the Middle East. And the administration is betting that its policy will inflict pain on Tehran without causing a spike in oil prices or an aggressive reaction.
It is a gamble that could eventually cost US consumers at the gasoline pump. But the initial impact has been relatively benign. Oil prices have been declining in recent weeks, even with sanctions on the horizon. Read More
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