Iranian nuclear becomes threat to oil markets

Iran’s nuclear ambition remains a threat to global oil markets, but not because of sanctions on its crude exports

EU and US sanctions against Iranian oil sales have already been priced into the market and will probably have only a limited impact on the country’s exports. Coming into force on 1 July, the sanctions will also affect global crude prices far less than last year’s shut down of the Libyan energy sector. “The Iran [sanctions] story has been in the market since November,” said one trader. “It’s already built into the oil price.” But if the sanctions fail to bring a change in the Iranian government’s nuclear strategy, Israel, with or without the support of Western governments, may be more inclined to launch a military strike on Iran on its own – a move that would immediately inject more risk into