Trump Death of Iran's Nuclear Deal Could Set Oil Bulls Loose - Bloomberg:
"Former Secretary of State Rex Tillerson put a break on President Donald Trump's desire to tear up the Iran nuclear deal. Rather than go against his top diplomat's advice, the president got rid of him, making it more likely that he will now pull the U.S. out of the agreement as early as May 12, the next deadline for him to extend the waiver on the sanctions that are suspended by it. The State Department doesn't seem to be entirely behind killing it. “We believe we can work within the nuclear deal,” Brian Hook, director of policy planning, said after Friday's quarterly meeting of the joint commission overseeing the 2015 agreement. If his former boss's fate is anything to go by, Hook's time at Foggy Bottom may be limited. President Trump appears determined to nix it. But there would be no point for the U.S. to withdraw if everybody else was just allowed to go on buying Iranian oil. If he does succeed in imposing new measures to slash the country's exports -- as he will surely seek to do -- the result would be a slump in Iranian flows that would make the decline in Venezuelan supply look modest by comparison."
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