With the revival of Iran nuclear deal in jeopardy, crude oil price may gain its upward momentum - again!

[hemanthaa@mail.com + 64]

The revival of the JCPOA, 2015 Iranian nuclear deal, appears to be reaching the point of no-return with the Iranian insistence on removing the sanctions first.

With President Biden’s warning against Iran at the weekend, military analysts are scratching their heads in guessing at what the ‘other options’ could be, the coded word of the US administration for unspecified action.

The flight of a US bomber over the Middle East, coving the strategic regions that followed the US threat, in this context, is significant. Simultaneously, Israel military is simulating an attack by Hezbollah on its northern territory by firing rockets at the rate of 2000 a day.

With these developments, the misplaced anxiety over the crude oil markets saturated with extra supply disappears into thin air.

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