Dan Dicker is the President of MercBloc Wealth Management Solutions and the author of Oil's Endless Bid. He has been a trader on the floor of the New York Mercantile Exchange for nearly 3 decades. You can find his smart commentary regularly on TheStreet.
Today’s report of a deal with the Iranians arresting the development of their nuclear capability has already had a significant affect on the oil market. But what will be the continuing effect of this ill-conceived relaxation of sanctions?
There had been strong protest against any kind of compromise deal with the Iranians going into negotiations this weekend in Geneva. Republicans here in the US, as well as the Israelis and the Saudis, have expressed dismay at the timing of negotiations and a deal. What was clear from the Iranian request for negotiations is that sanctions, after years of application, were finally working.
That’s because it hasn’t been the trade embargo that has had the greatest negative effect on Iran; it’s been the
Budget negotiators in the Congress have reached an agreement on Tuesday that, if approved by the House and Senate, …