Although the latest development could lend support to crude oil prices, OCBC analyst Low Pei Han notes that the oil market’s base case has probably priced in a Trump administration exit from the nuclear deal.
SINGAPORE (May 9): US President Donald Trump announced last night in Washington he will withdraw the US from an Obama-era nuclear agreement with Iran.
Going against advice from European allies, Trump said he would reimpose economic sanctions that were waived when the deal was signed in 2015.
