Oil’s Correlation With Stocks Could Affect Trump’s Iran Decision Calculus

Last week, oil was back in the spotlight after the Trump administration decided not to extend waivers on imports of Iranian crude when they expire on May 2. The decision marked the latest escalation between Washington and Tehran and came hot on the heels of the (probably ill-advised) decision to designate the IRGC as a terrorist group. Crude initially surged, as news that the exemptions would not be extended threatened to squeeze a market already grappling with the unfortunate situation in Ven