The U.S. wants to force Iran back to negotiations over its nuclear program. Buyers importing crude after the waivers expire on May 2 faces the risk of being cut off from the American financial system. WTI Crude is $65.96; Brent is $74.26 this morning.
Oil surges as U.S. Secretary of State Michael Pompeo plans to announce that Iran waivers will not be renewed. The current set of waivers -- issued to China, Greece, India, Italy, Japan, South Korea, Taiwan and Turkey -- expire May 2. WTI Crude is $65.30; Brent is $73.65 this morning.
Source: Bloomberg.com - By: Nick Wadhams, Glen Carey and Margaret Talev
U.S. Secretary of State Mike Pompeo says the U.S. won’t renew waivers for countries that buy oil from Iran.
Exploration and production investments are starting to normalize as the industry heads toward a more sustainable financial stewardship of the global resource base say some experts. WTI Crude is $63.98; Brent is $71.79 this morning.
The demand side of the oil equation got a substantial bonus via today’s data about China, suggesting prices will continue to move higher on improving global growth and risk sentiment. WTI Crude is $64.44; Brent is $72.08 this morning.
Analysts on average expect U.S. crude stockpiles to have risen by 1.9 million barrels last week. The first of this week’s stockpile report, seeing its fourth straight increase, is due from the American Petroleum Institute. WTI Crude is $63.52; Brent is $71.30.
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