Iran or pump prices: Biden’s thankless choice

The US president may opt to do a JCPOA deal as a lesser evil than expensive gasoline

US president Joe Biden is aware that agreeing sanctions relief with Iran in return for curbs on its nuclear programme will be unpopular not just with his Republican opponents but also within his own Democratic party. But, according to Torbjorn Soltvedt, principal Mena analyst at consultancy Verisk Maplecroft, Biden may “view rising fuel prices as a bigger issue” ahead of November’s US midterms and be prepared to strike a deal to bring Iranian barrels swiftly back to the market to try to relieve upward pressure on oil prices. Iran, which to date has shown little willingness to compromise, now has an opportunity to strike a deal on its own terms, says Soltveldt. “Iranian negotiators will seek

Welcome to the PE Media Network

PE Media Network publishes Petroleum Economist, Hydrogen Economist and Carbon Economist to form the only genuinely comprehensive intelligence service covering the global energy industry