Global markets for equities, currencies and metals have all been whipsawed by the uncertainty over what President Donald Trump’s next geopolitical move would be. Oil’s about to have a turn.
It’s too close to call whether Trump will reinstate sanctions on Iran next month and the impact is highly uncertain, according to a Bloomberg survey of oil-market analysts. The 17 respondents saw on average a 50-50 chance of sanctions “snap-back,” which could halt anywhere between zero and 800 thousand barrels a day of exports from OPEC’s third-largest producer within the next six months.
