CNBC reports: “President Donald Trump said Thursday any country or person that buys oil or petrochemicals from Iran will not be allowed to do any business with the U.S.”
Oil prices rose by almost 2 % following Trump’s announcement.
Iran is the second largest oil producer in OPEC. Cutting out the oil produced by Iran will have a clear impact on energy prices.
Other producers, such as Russia will benefit.
The market and consumers will adapt. It is a preparation for a further conflict with Iran.
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