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Forget Iran, watch Iraq for impact on O&G stocks: OCBC

PC Lee
PC Lee5/9/2018 10:45 AM GMT+08  • 3 min read
Forget Iran, watch Iraq for impact on O&G stocks: OCBC
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.
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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.

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.

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