WTI Tumbles On CNN Report Trump Won't Withdraw From Iran Deal

WTI Crude is testing a $67 handle, down over 4% this morning, and accelerating lower as CNN reports that Trump will announce new sanctions on Iran but will not withdraw from the nuclear deal...

Despite earlier reports that Mike Pompeo has already briefed European leaders on Trump's decision to withdraw, CNN claims he will not and that has sparked more selling in WTI...

And Energy Stocks...

And commodity currencies (RUB and CAD getting hit hard)

Perhaps President Trump noticed how soaring oil (and gasoline) prices were eating into his tax cuts?

However, CNN also reports that Trump will announce additional sanctions on Iranian oil exports (which should counter the current drop in price) and is expected to allow a grace period to offer Iran Deal proponents an opportunity to renegotiate.