Oil market on edge with decision on Iran deal looming

Trump speaking on Iran deal
Trump making a statement on how the U.S. will deal with Iran. Photo: Drew Angerer/Getty Images

President Trump, facing a May 12 deadline, says he'll announce his plans for the Iran nuclear deal today at 2pm ET.

Why this matters: Trump opposes the deal and at some point he's widely expected to reimpose sanctions designed to restrict Iranian crude sales to other buyers (the U.S. does not import Iranian oil).