The U. S. President is replacing Tillerson with loyalist CIA Director Mike Pompeo, an outspoken critic of Iran, who has called for a 2015 nuclear deal to be scrapped.
Trump has threatened to withdraw from the accord between Iran and six world powers, signed before he took office, unless Congress and European allies "fix" it with a follow-up pact.
"The market is having a wobble on the back of the potential impact on future supply from Iran and also for the ramifications for the Middle East as a whole," Saxo Bank's Ole Hansen said.
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