For Oil, Volatility Is ‘The New Normal’, Goldman Says

You'd be forgiven if you're confused as to the outlook for crude, which is caught in the crosshairs of U.S. foreign policy, U.S. trade policy and U.S. fiscal policy. The Trump administration is seeking to apply what, in a letter to European officials, Mike Pompeo and Steve Mnuchin described as "unprecedented financial pressure" on Iran in the wake of the President's decision to pull the U.S. out of the nuclear deal. That letter suggested waivers on secondary sanctions are not in the cards and