​Progress towards an Iran nuclear deal hits oil

GULF COUNTRIES - Report 19 May 2021 by Justin Alexander

We predict a 40% chance of a revived JCPOA nuclear deal closing next week, with an 80% chance of it happening by July, after the June 18 Iranian presidential elections. The oil market is finally beginning to wake up to the threat but hasn't yet priced it in. This presents both a fiscal and a political challenge for the Gulf states.

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