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Goldman sees US-Iran tensions presenting long-term threat to global oil supply
Goldman Sachs said Tuesday that while clashes in the Kurdistan region of Iraq posed a risk to oil output, intensifying geopolitical tensions between the U.S. and Iran remained a more formidable and longer-term threat to global oil supply. After several weeks of fairly flat trade, a risk premium has returned to oil markets and boosted global prices. On Monday, Iraqi forces moved into the oil-rich province of Kirkuk — threatening oil supplies — while political tensions between the U.S. and Iran continued to reverberate. "In the case of Iran, there are likely no immediate impacts on oil flows and there remains high ... (full story)