Market Extra: Investors should pay more attention to Iran than Korea

To say the apparent breakthrough in relations between North Korea and South Korea could prove to be of major historical significance is an understatement, but the Middle East remains the geopolitical hot spot more likely to send ripples through global markets in the weeks ahead.

Indeed, expectations that President Donald Trump in May will pull the U.S. out of the international agreement designed to curb Iran’s nuclear program, effectively reimposing sanctions on one of the world’s largest crude exporters helped send oil futures to more-than-three-year highs this month.

On Friday, Secretary of State Mike Pompeo, himself a longtime critic of the Iran agreement, reinforced those expectations, telling reporters in Brussels that “absent a substantial fix…absent overcoming the flaws of the deal—[Trump] is unlikely to stay in that deal past this May.

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