Trump's Return Fuels Uncertainty in Global Oil Markets

Donald Trump's return to the White House has triggered a reassessment of US-Iran relations, with Tehran aiming to revise past approaches and Trump planning to increase sanctions, particularly on Iran's oil industry. His administration's focus will be on isolating Tehran diplomatically and financially, potentially reducing Iranian oil exports by up to 1 million barrels per day. However, enforcing stricter sanctions may strain US relations with China, Iran's biggest oil customer, complicating international economic dynamics. Analysts are also concerned about the potential impact on global oil prices, with Trump's policies likely to support prices by tightening Iranian exports but possibly countered by increased domestic US production. The ambiguity surrounding Trump's policies has created uncertainty in oil markets, with mixed implications for supply and demand. Iran, meanwhile, remains divided on the potential outcomes, with some fearing increased tensions and others hoping for diplomatic opportunities.