Iran deal withdrawal may well hit you at the pump
By Gregory Daco, opinion contributor — 05/08/18 03:45 PM EDT
Over the past few weeks, oil prices have rallied to levels not seen since November 2014. On Monday, West Texas Intermediate (WTI) crude oil prices surpassed $70 per barrel (pb) for the first time since 2014, while Brent crude traded above $75 pb.
Three factors have played a key role supporting higher energy prices: weaker supply, stronger demand and most importantly in recent days, geopolitical uncertainty surrounding the Iran sanctions.
As we look into the second half of 2018, what are the implications of higher oil prices for major economies throughout the world and what are the prospects for oil prices in the next few months?
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http://thehill.com/opinion/finance/386758-iran-deal-withdrawal-is-hitting-you-at-the-pump
