Iran and Venezuela are ‘a major challenge’ to avoiding oil price hikes, IEA warns

  • Potential oil supply disruptions in Iran and Venezuela have prompted oil traders to focus on geopolitics rather than fundamentals, the International Energy Agency (IEA) said Wednesday.
  • President Donald Trump’s decision to withdraw the U.S. from the Iran nuclear deal coupled with political and economic disorder in Venezuela has cast their oil supply into doubt. Source CNBC

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