Gasoline prices are rising in the US
Iran or pump prices: Biden’s thankless choice
The US president may opt to do a JCPOA deal as a lesser evil than expensive gasoline
US president Joe Biden is aware that agreeing sanctions relief with Iran in return for curbs on its nuclear programme will be unpopular not just with his Republican opponents but also within his own Democratic party. But, according to Torbjorn Soltvedt, principal Mena analyst at consultancy Verisk Maplecroft, Biden may “view rising fuel prices as a bigger issue” ahead of November’s US midterms and be prepared to strike a deal to bring Iranian barrels swiftly back to the market to try to relieve upward pressure on oil prices. Iran, which to date has shown little willingness to compromise, now has an opportunity to strike a deal on its own terms, says Soltveldt. “Iranian negotiators will seek
Also in this section
17 February 2026
The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
17 February 2026
Siemens Energy has been active in the Kingdom for nearly a century, evolving over that time from a project-based foreign supplier to a locally operating multi-national company with its own domestic supply chain and workforce
17 February 2026
Eni’s chief operating officer for global natural resources, Guido Brusco, takes stock of the company’s key achievements over the past year, and what differentiates its strategy from those of its peers in the LNG sector and beyond
16 February 2026
As the third wave of global LNG arrives, Wood Mackenzie’s director for Europe gas and LNG, Tom Marzec-Manser, discusses with Petroleum Economist the outlook for Europe’s gas market in 2026
