Sanctions Iran strike oil market

Sanctions Iran strike oil market

World August 29, 2018 14:00

- Approaching import sanctions for Iran have pushed exports below 70 million barrels per day for the first time since April. That has allowed the oil price to rise on Wednesday.

The physical market for crude oil is drying up. According to analysts, that could have been much more.

The sudden increase in American stocks, according to figures from the American Petroleum Institute, resulted in a flattened price increase for Brent oil with a 0.7% increase to $ 76.50 per barrel of 150 liters on Wednesday.

In addition, the Venezuelan oil exports have been halved to less than a million barrels per day since 2016.

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