The Trump administration is stepping up tensions with Iran, introducing new sanctions and deploying bellicose rhetoric. But Iran says that oil production will continue to rise, targeting 4 million barrels per day by March. Iranian officials also said that the actions from the Trump administration would make it impossible for American companies to participate in Iran’s upcoming oil auctions. Iran says that it has not barred American companies from investment, but instead blamed U.S. law as the obstacle. For now, the 2015 nuclear deal remains intact, but the past two weeks have raised serious threats to the agreement. Political risk firm Eurasia Group puts the odds of the deal’s survival at just 60 percent.
What will oil prices do if Trump rips up the Obama Nuke Deal with Iran and put new sanctions in place?