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US Iran deal announcement: Shift to upside price risk case
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Report summary
Ahead of schedule, on Tuesday 9 May, President Trump announced the US is withdrawing from the Iran nuclear deal. As a result, the previous US secondary sanctions against investment in Iran by other nations go into place after a transition period. The full implications of the sanctions are not fully understood as yet, however, for the oil market, it is clear we have moved into the upside risk case presented in the 7 May 2018 Macro Oils short-term outlook published prior to Trump’s announcement.
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