Economy

The Oil Market Should Brace for a Forever Stalemate in Iran

The oil market sees the future of the Iran war as binary. Either Tehran and Washington reach a deal — in days rather than months — or they head into an extended and worsening conflict. With few signs of peace, the market is anticipating another round of hostilities, perhaps as soon as next week after the US midterm elections. There is, however, a third path: The current deadlock becomes the new normal, creating a forever stalemate.