Leaving Iran Deal has a Long Term Implication on Oil Price

Related Articles

OPEC’s next Production Decision could be Decided in the UAE

2 weeks ago

OPEC+ Rules in an Increasingly Tight Oil Market

4 weeks ago

IEA Chief: No Chance of Hitting Climate Goals without Nuclear Power

March 22, 2024

Former Shell Oil President John Hofmeister said leaving the Iran nuclear deal carries long-term implications on the price of oil.

President Donald Trump is expected to announce on Tuesday that he will reinstate sanctions which puts Iran back in the “isolation chamber“ and allows them to “play more havoc within the region.“ ultimately impacting the geopolitical price of oil. Hofmeister told FOX Business’ Charles Payne on “Varney &amp. Co.“ on Tuesday.

“No telling what Iran might do but western oil companies are prohibited from operating in Iran. which was the case before. and there was some trying to get back into Iran. then Iran is left with Chinese and Russian support and that’s it.“ he said. “That gives them more hegemony in the region where they can. as we know. become a real trouble maker and Lord knows what that will do to the geopolitical issues.“