RE:Oil price could rise further amid U.S sanctions on IranERTguy wrote: U.S.-Iran tensions heating up. The Trump administration is moving to impose new sanctions on Iranian entities after Iran tested a ballistic missile. The move comes after the administration said that they were “putting Iran on notice,” a vaguely worded threat that has undone years of improving relations. Iran has said that new sanctions would breach the 2015 nuclear accord; the U.S. insists they do not. The latest flare up in tensions upends a two-year dtente between the U.S. and Iran and put the two countries back on a path of confrontation. Iran has succeeded in ramping up oil production after international sanctions were lifted a year ago, but the sudden resurgence in tensions could push up prices if things escalate. The geopolitical battle with Iran had enormous influence a few years ago, and this could be one of the major black swan events of 2017.
Well, the US sanctions are not currently related to oil export sanctions so at this point this is just news hype. Writers trying to meet deadlines with anything they can conjure up. And this will definitely NOT be a black swan event because it is known and the definition of a black swan is something that comes out of the blue and was unanticipated. More material for the outhouse I would say.