A pump jack operates at a well site leased by Devon Energy Production Co. near Guthrie, Oklahoma. Nick Oxford, Reuters
CNBC: Oil prices are indicating a worst-case scenario on Iran nuclear deal, economist says
* U.S. President Donald Trump has referred to the 2015 Iran nuclear agreement as the "worst deal ever" and has to decide by May 12 whether to slap sanctions back on the country.
* Oil prices have climbed in anticipation of that decision, which showed that investors are expecting the worst.
As the world awaits U.S. President Donald Trump's verdict on the 2015 Iran nuclear deal, climbing oil prices show that investors are expecting the worst.
Energy markets are indicating that the U.S. is likely to pull out of the accord and reimpose sanctions on Tehran, according to Dubai's largest bank, Emirates NBD.
The deal, officially called the Joint Comprehensive Plan of Action, lifted international sanctions against Iran in exchange for it curbing its nuclear program. Trump has referred to the agreement as the "worst deal ever," and he must decide by May 12 whether to reimpose sanctions or to grant the country a waiver.
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More News On Oil Prices Indicating A Worst-Case Scenario For The Iran Nuclear Deal
US crude oil above $70 on Venezuela and Iran worries -- Financial Times
U.S. Crude Edges Toward $70 as Traders Brace for Iran Decision -- Yahoo News/Bloomberg
U.S. oil surges past $70, dollar hits fresh 2018 high -- Reuters
Oil Faces a Month of Mayhem as Geopolitical Risks Proliferate -- Rigzone/Bloomberg
Oil prices have surged above $70—here are 4 key reasons behind the rally -- Market Watch
What Trump's decision on Iran nuclear deal means for oil prices -- Washington Post
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