What a simplistic and superficial analysis. It has always been the case that as the Middle East erupts in conflict and war, the price of oil goes up. If I ere a speculator I’d buy up oil when this dumb line of reasoning drives prices down.
This so-called agreement will bring Iran and Israel right to the brink, with the U.S. becoming totally relevant. That is a recipe for disaster.
You said: What a simplistic and superficial analysis.
Good point. Restricting the purchase of oil from an oil-producing country doesn’t drive prices up, and easing those restrictions — and increasing supply — doesn’t drive prices down. I wonder what grade you got in Economics 101.
As China becomes their primary customer it will be interesting to see the attitude going forward. My guess is the commies will be a much more controlling customer.
Obama always wanted us addicted to iranian oil.