Asian shares are rattled as the US exits the Iran deal
Equities slip as renewed US sanctions on Tehran are seen as disruptive for many companies that have deals with Iran
Tokyo — Crude oil prices jumped back to almost three-and-a-half-year highs on Wednesday after President Donald Trump pulled the US out of an international nuclear deal with Iran, sparking concern about global oil supply. Asian shares ticked down as renewed US sanctions on Tehran were seen as disruptive for many companies that have deals with Iran. Trump’s move is also seen as risking worsening already-tense relations between Iran and US allies in the region. "In the very short term, it looks as if the impact of heightened geopolitical worries was limited to oil markets. But that is not the end of the story," said Norihiro Fujito, senior investment strategist at Mitsubishi UFJ Morgan Stanley Securities. "US sanctions could affect various industries. And tensions between Iran and Israel look set to intensify. Those will begin to cap share prices," he said. West Texas Intermediate (WTI) crude futures traded at $70.57 a barrel, up 2.2% and near Monday’s peak of $70.84, the highest level...
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