more interested to see what it does to fuel oil prices
U.S. drivers can look forward to $2 gas later this year, thanks in part to the Iran nuclear deal announced Tuesday.
Gas may only dip a few cents when the Iranian oil first starts to flow again, but by September drivers could see big savings.
"Once we get past Labor Day, we should see gas falling by 10 to 15 cents a month," said Tom Kloza, chief oil analyst with the Oil Price Information Service. "By December a lot of places are going to see gasoline at $2 or less."
Iran hasn't been able to sell oil to the United States since 1995. Most major Western countries imposed sanctions within the last five years aimed at curbing Iran's nuclear program. Instead it's been selling to China, India, Turkey and other developing markets.
Crude oil and gasoline prices were both initially lower Tuesday on news of a deal between six major powers and Iran, though oil edged higher later.
"[Iran] will only add to the oil glut on the market and increase the selling pressure," wrote Naeem Aslam, chief market analyst at Ava Trade.
more http://money.cnn.com/2015/07/14/news/economy/2-gas-iran-nuclear-deal/index.html
HG called it
The United States said on Tuesday it was very disturbed by anti-U.S. hostility voiced by Iran's top leader after a nuclear deal, as both countries' top diplomats sought to calm opposition to the accord from political hardliners at home.
U.S. Secretary of State John Kerry said a speech by Iranian Supreme Leader Ali Khamenei on Saturday vowing to defy American policies in the region despite a deal with world powers over Tehran's nuclear programme was "very troubling".
"I don't know how to interpret it at this point in time, except to take it at face value, that that's his policy," he said in the interview with Saudi-owned Al Arabiya television.
"But I do know that often comments are made publicly and things can evolve that are different. If it is the policy, it's very disturbing, it's very troubling," he added.
Ayatollah Khamenei, the highest authority in Iran, told supporters on Saturday that U.S. policies in the region were "180 degrees" opposed to Iran's, in a Tehran speech punctuated by chants of "Death to America" and "Death to Israel".
Under the accord reached in Vienna last week, Iran will be subjected to long-term curbs on a nuclear programme that the West suspected was aimed at creating an atomic bomb but which Tehran says is peaceful. In return U.S., European Union and U.N. sanctions on Iran will be lifted. The deal was signed by the United States, Britain, China, France, Germany and Russia.
It was a major policy achievement for both U.S. President Barack Obama and Iran's pragmatic elected President Hassan Rouhani. But both leaders have to sell it at home to powerful hardliners in countries that have been enemies for decades, referring to each other as the "Great Satan" and a member of the "Axis of Evil".
In the case of Iran, the deal must win final approval from the National Security Council and ultimately Khamenei, who has so far withheld final judgement while saying the text must still be scrutinised.
In the United States, Republicans who control Congress have lined up against the deal, but Obama says he will veto any congressional objection.
Kerry also has the task of selling the agreement to sceptical U.S. allies in the region. Israel is implacably opposed, and Sunni Muslim-ruled Arab allies of the United States, such as Saudi Arabia, are suspicious of an arrangement that would benefit their rival, Shi'ite, non-Arab Iran.
Kerry said the deal would improve regional security by preventing Iran from seeking atomic weapons.
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