Crude Closes Near Three-Year High as Focus Remains on Iran Deal - Bloomberg

Crude Closes Near Three-Year High as Focus Remains on Iran Deal - Bloomberg:

"Crude settled near a three-year high as investors gauged the potential of a U.S. exit from the Iran nuclear deal.


Futures ended the session 0.2 percent higher, closing above $68 a barrel for a third time this week. French President Emmanuel Macron’s prediction that the U.S. will pull out of the Iran nuclear accord stoked concerns about a renewal of sanctions that would slash crude exports from OPEC’s third-largest producer. U.S. Defense Secretary Jim Mattis said Thursday that there’s been no decision on the nuclear deal.

“We are pricing in some geopolitical risk,” said Bart Melek, head of global commodity strategy at TD Securities in Toronto. “There are concerns that we might get into a difficult conversation with Iran.”"



'via Blog this'