The Downside Oil Market Risks of a New Iran Deal

The downside oil market risks of a new Iran deal

Near-term progress in a renewed nuclear agreement between the United States and Iran could add further downward pressure to a delicate oil market, potentially heralding more fiscal pain for Gulf oil producers and complicating US energy strategy.

Oil Prices Surge Amid Ukraine Tensions And Iran Deal Uncertainty » News.ng

Oil prices rose on Tuesday, driven by escalating tensions in the Ukraine conflict and uncertainty surrounding the potential collapse of Iran nuclear negotiations, despite ongoing diplomatic efforts. The petroleum market had already experienced significant gains the previous day, with crude rising nearly 3% after OPEC+ reaffirmed plans to increase July production by 411,000 barrels per day. This figure matched previous monthly targets and fell sh…