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World oil price could hit $100 a barrel next year

16 Mai 2018

Although Israel has never acknowledged it, its Mossad spy agency is widely believed to be behind the assassinations of at least five Iranian nuclear scientists in the years preceding the 2015 negotiations.

Nothing to do with widespread concerns over the absence of prompt inspection opportunities at key Iranian nuclear sites.

Airbus, which is subject to the US license because it makes at least 10 percent of its aircraft components in the USA, says it will abide by the new USA sanctions but it could take "some time" to determine the full impact on the industry.

It was all because President Trump wanted to undermine Barack Obama's legacy.

As has been widely discussed in the aftermath of President Trump's decision to withdraw from the Iran nuclear deal, the return of sanctions on Iran could disrupt oil shipments, with estimates ranging from essentially nothing to as much as 1 million barrels per day of Iranian supply going offline.

It was the latest indication that Trump may be out ahead of his aides in gunning for an agreement with the hermit regime.

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In a tweet on Sunday, Trump wrote: "Remember how badly Iran was behaving with the Iran Deal in place".

"As we digest the news of the withdrawal from the Nuclear Accord, I think it's beginning to set in that there's a six-month lag before things begin to effect supply", said Gene McGillian, Vice President of research at Tradition Energy.

Mr Trump remained unconvinced that the Iran agreement was anything but a "bad deal".

The Democratic Congressional Campaign Committee immediately took to social media to explain to Americans why Trump took the action. After all, despite sanctions and U.N. Security Council resolutions between 2005 and 2013, Iran actually expanded the number of centrifuges it was operating.

Talk-radio icon Rush Limbaugh spoke of the impact of Trump's announcement: "This was right between the eyes".

That said, a deal on NAFTA that all three countries could live with is still possible, she insisted, crediting the Liberal government with doing everything it can do get a deal with the unpredictable Trump administration.

"I felt a surge of pride when he did it. ..."

The U.K. government updated its guidelines on exporting to Iran shortly after Trump's announcement Tuesday, saying the re-imposition of the USA sanctions against Iran "may have implications for U.K. businesses and individuals dealing with Iran".

But, highlighting investor worries, the USA -traded iShares MSCI Malaysia ETF (EWM) plunged 6 percent overnight to a one-year low.

On social media site Twitchy was the comment, "The DCC has officially lost it". "It kept the official cash rate (OCR) on hold, as was widely expected, but notably allowed for the OCR to move "up or down", rather than simply on hold - a slightly dovish development in our view", said Imre Speizer, economist at Westpac. Iran's rivals long have wanted to scuttle the nuclear deal with world powers, but its destruction could backfire and spark even more unrest in parts of the Middle East as Saudi Arabia threatens to launch its own nuclear weapons program in response.

One veiled reference from Trump to Obama, "when I make promises, I keep them", raised one of the most consequential questions of all: Can the word of the United States be trusted from one President to another? The significant loss of oil revenues will result in further devaluation of Iran's currency, the rial, which has already lost its value against dollar by nearly three times due to the recent uncertainties around the deal. Yet the fact that his predecessor negotiated the deal has always made it a deal-breaker for Trump, just as Obama-era agreements on climate and trade found themselves in the same trash bin. The U.S. decision to walk away from the Iran deal may present such an opportunity. Unlike Iran, North Korea already has nuclear weapons.

Europe now has a major role in determining the fate of the Iran deal. "The only country that benefited from the Iran deal was Iran". Similarly, bank transactions involving payments to and from the Iranian government or companies in Iran could equally be construed as "help".

Even Europe, which until recently had been a solid American ally on foreign policy, is breaking with this White House openly, and has no appetite for an unsettling event in the Middle East.

World oil price could hit $100 a barrel next year