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Oil Algos In Crisis As Bloomberg Reports Trump Will Pull Out Of Iran Deal

• https://www.zerohedge.com

Update 2:  Bloomberg reports that President Trump is said to have decided to pull out of the Iran Nuclear Deal...

President Trump has decided to pull out of the Joint Comprehensive Plan of Action, according to a person familiar with the decision.

The initial reaction was a rise in prices but it seems the machines are exhausted...

AP also reports that President Donald Trump is following through on his campaign threat and withdrawing the U.S. from the landmark nuclear accord with Iran.

That's according to two people familiar with the decision, who spoke on condition of anonymity because they were not authorized to speak on the record. They did not have any details on how the withdrawal would unfold.

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Update 1: it's one of those days, and anyone who said someone was about to deny the NYT report, was right, because moments ago a third news service - this time Reuters - said that according to France Trump did not give any indication what he will do on the Iran deal:

FRENCH PRESIDENCY SAYS U.S. PRESIDENT TRUMP DID NOT GIVE ANY INDICATION ON IRAN DECISION IN PHONE CALL WITH MACRON

FRANCE SAYS TRUMP DID NOT GIVE INDICATION ON IRAN: RTRS

Or, as summarized on twitter:

Oil algos paralyzed amid this barrage of fake news.

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Remember last week when a fake report by CNN that the US and China were about to reach an agreement during last Friday's trade talks - when in reality nothing like that happened - sent stocks surging?

Well, CNN's "fake news" factory was in overdrive again this morning, again moving markets and sending oil tumbling on an unconfirmed report that Trump won't withdraw from the Iran deal. Well, just moments later oil shot up after this time it was the NYT denying CNN's report

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