Trust, Yet Verify: Long-Term Oil Markets Not Expected to be affected by Iran Pact

On November 24, 2013, the United States and Iran reached a diplomatic accord in hopes of soothing tensions existing since the Carter administration. As part of the deal, Iran agreed to freeze its entire nuclear program in exchange for the U.S. to ease its trade restrictions. Relations between Iran and other nations have opened up since Dr. Hassan Rouhani took office on August 4, 2013. The previous leadership of Mahmoud Ahmadinejad led to uneasiness about the intention of Iran’s nuclear program, and the United States and Europe enforced strict s...