And now for an oil bubble?

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Oil is off the hook post-Iran deal:

Is the price run legitimate? Life without the Iran deal isn’t whole lot different given everyone except the US remains on board. Via the FT:

The EU is committed to salvaging the 2015 deal intended to curb Iran’s nuclear ambitions and Tehran has said it would stick to the agreement. But to save the deal EU capitals have to convince European companies to keep investing and signing deals with Tehran despite the threat of extraterritorial US fines.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.