Trafigura Says US Policy on Iran Is Oil’s Big Bullish Risk

Trafigura Group’s head of oil trading Ben Luckock said that US foreign policy towards Iran is the biggest upside risk to crude prices in an otherwise well supplied market.

“The two big unknowns are – how is the US going to deal with it’s trade issue with China and then how is the US going to deal with Iran and I think the Iranian one is the one that we need to watch out for,” Luckock said in an interview on Bloomberg TV. “You may find that pressure on Iran backs it into a corner and then we have to be careful.”