Offbeat: Oil wavers ahead Trump's Iran nuclear deal decision - - PressFrom - US
  •   
  •   
  •   

Offbeat Oil wavers ahead Trump's Iran nuclear deal decision

19:11  08 may  2018
19:11  08 may  2018 Source:   cnbc.com

Trump weighs future of nuclear deal after Netanyahu's claims that Iran lied

  Trump weighs future of nuclear deal after Netanyahu's claims that Iran lied Israel's Prime Minister Benjamin Netanyahu gave Mr. Trump plenty of ammunition for pulling out of the deal ahead of May 12 deadlineIsraeli Prime Minister Benjamin Netanyahu gave Mr. Trump plenty of ammunition for pulling out of the 2015 pact Monday, CBS News chief White House correspondent Major Garrett reports. Under the deal, Iran agreed to stop its nuclear program in return for sanctions being lifted. But Netanyahu insists Iran didn't live up to its end of the bargain.

The sense of foreboding gripping the Iranian capital ahead of Trump ’ s Saturday deadline to While the nuclear deal offered a salve in allowing Iran to sell crude oil and natural gas in the “We are not scared by Trump ’ s decision and will resist and stand up to him without wavering ,” the cleric said.

President Donald Trump is to reveal whether the US will abandon the nuclear deal with Iran and reimpose sanctions. Mr Trump has been highly critical of the 2015 accord, under which Iran limited its nuclear activities. EU powers see it as the best way to stop Iran developing a nuclear bomb and their

Oil prices turned volatile Tuesday after a report that President Donald Trump will not pull the United States out of the 2015 Iran nuclear deal, but it was not immediately clear whether the report was accurate.

Bloomberg News reported that Trump will announce new sanctions on Iran but would not leave the deal, citing CNN. However, that headline was not accurate. CNN actually reported that Trump would restore sanctions that have been suspended, marking the first step toward exiting the accord.

Crude futures had been down earlier in the session as the market awaited Trump's decision on the Iran nuclear deal, sliding further from the previous session's 3½-year highs.

Iran's president: US ending deal will be 'historic regret'

  Iran's president: US ending deal will be 'historic regret' Iran's president is warning President Donald Trump that pulling America out of the nuclear deal with world powers would be a "historic regret.President Hassan Rouhani made the comments Sunday in the city of Sabzevar while on a tour of Iran's Razavi Khorasan province.

Trump withdraws from Iran nuclear deal , isolating him further from world. Trump ' s decision could have explosive consequences, straining longstanding US alliances, disrupting oil markets and boosting tensions in the Middle East, even if the US reversal doesn't lead Iran to restart its atomic program.

President Donald Trump is to reveal whether the US will abandon the nuclear deal with Iran and reimpose sanctions. Mr Trump has been highly critical of the 2015 accord, under which Iran limited its nuclear activities. EU powers see it as the best way to stop Iran developing a nuclear bomb and their

Trump is expected to announce on Tuesday at 2 p.m. ET whether he will continue to waive sanctions against Iran, which were suspended as part of the 2015 nuclear deal. If he restores the sanctions, which target Iran's oil exports, it would effectively withdraw the United States from the international accord.

U.S. West Texas Intermediate crude oil was down $2.46 a barrel, or 3.5 percent at $68.27 by 11:15 a.m. ET (1515 GMT). The contract rose as high as $70.84 on Monday and ended the session about $70 a barrel for the first time since November 2014.

International benchmark Brent crude fell $2.35, or 3.1 percent, to $73.82. Brent touched $76.34 on Monday, its best level since Nov. 27, 2014.

Iran is OPEC's third-largest oil producer and currently exports about 2.5 million barrels a day. Renewed sanctions would likely crimp those shipments at a time when global oil supply and demand have essentially balanced out. That increases the risk that the market could swing into undersupply and send oil prices higher.

Oil pops above $70 for first time since 2014

  Oil pops above $70 for first time since 2014 Rising oil prices just passed another milestone as traders prepare for the possibility that President Trump will abandon the Iran nuclear deal.Oil prices have been climbing partly because of expectations that President Donald Trump will abandon the 2015 Iran nuclear deal, which allowed Iran to export more crude.

Mr. Trump ’ s decision , while long anticipated and widely telegraphed, plunges America’s relations with European allies into deep uncertainty. WASHINGTON — President Trump declared on Tuesday that he was withdrawing from the Iran nuclear deal , unraveling the signature foreign policy achievement

Trump ’ s Iran decision to come tomorrow, hits markets today. Oil prices gave up their gains on Monday after surging to their highest levels since late 2014, falling from above a barrel after President Donald Trump said he’d announce his decision on the Iran nuclear deal on Tuesday.

However, prices backed off Monday's highs after Trump tweeted that he would announce his decision four days before a deadline spelled out in the nuclear deal.

The tweet convinced some investors that the worst of the market's fears — that Trump will move quickly to impose sever sanctions — won't be realized, according to John Kilduff, founding partner at energy hedge fund Again Capital. Instead, some traders are now anticipating a "Trumpian half measure," he said.

"I think they'll pull out of the deal, but I don't think he'll go much further than that," Kilduff said. "We're pulling out of the deal, but he's going to hold off on reimposing sanctions until he can have an opportunity to work out some other sort of arrangements with Iran and the allies themselves."

Trump warned earlier this year that he would pull out of the nuclear accord unless he could reach a deal with Britain, France and Germany to toughen the terms of the agreement. That deal has not emerged.

Iran president warns of 'problems' as Trump decision looms

  Iran president warns of 'problems' as Trump decision looms Iran's president has warned the country could face "some problems" ahead of President Donald Trump's decision on whether to pull out of its nuclear deal with world powers. Without directly naming Trump, Rouhani's remarks on Tuesday at a petroleum conference in Tehran represented the first official Iranian comment on the U.S. president's overnight tweet that he'd make an announcement on the deal Tuesday. "It is possible that we will face some problems for two or three months, but we will pass through this," Rouhani said.Rouhani also stressed Iran wants to keep "working with the world and constructive engagement with the world.

Donald Trump asked for Saudi Oil Support one day before he announced the end of Iran Nuclear Deal . The US requested Saudi Arabia to keep The US requested Saudi Arabia to keep oil prices and supply stable after the imposition of sanctions on Iran . Saudi Arabia, Iran ’ s arch rival, has long been a

Trump ’ s Iran deal announcement was made in a Tuesday afternoon White House address, in which he announced that he would reimpose sanctions on Iran ’s oil sector that had been lifted as part of the agreement. This put the US in violation of its obligations under the agreement, and thus constitutes a

If Trump restores sanctions, the impact on oil flows will depend in part on how Washington chooses to implement them.

However, analysts say that lack of international support for renewed U.S. sanctions means the measures will likely only remove 300,000-500,000 barrels a day of Iranian crude from the market. That compares with 1 million-1.5 million barrels a day under President Barack Obama.

The oil market is vulnerable to a sell-off because investors have taken out a record number of long positions in crude futures in recent months. Investors could unwind these long positions, or bets that oil prices will keep rising, if Trump's announcement on Tuesday eases geopolitical concerns.

"A de-escalation of the geopolitical tension is likely to trigger an outflow from investors, reducing significantly whatever risk premium is embedded in prompt prices, given that investors are holding near-record net long positions," Edward Morse, global head of commodities research at Citi said in a recent research note.

The continued deterioration of Venezuela's economy, underpinned by a drop in its lifeblood crude oil production, has helped to underpin prices.

The Latest: White House condemns Iran's 'reckless actions' .
The White House is condemning Iran's "reckless actions," accusing the country of "exporting destabilizing influence throughout the Middle East." White House spokeswoman Sarah Huckabee Sanders has issued a statement citing actions in Syria and Saudi Arabia. She is calling on "responsible nations" to pressure Iran to "change this dangerous behavior.

—   Share news in the SOC. Networks

Topical videos:

usr: 3
This is interesting!