• 3 minutes Will Iron-Air batteries REALLY change things?
  • 7 minutes Natural gas mobility for heavy duty trucks
  • 11 minutes NordStream2
  • 6 hours U.S. Presidential Elections Status - Electoral Votes
  • 7 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 hours And now, hybrid electric locomotives...
  • 5 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 5 hours World’s Biggest Battery In California Overheats, Shuts Down
  • 3 days Los Angeles to Open Five New Natural Gas Plants to Avoid More Outages.
  • 51 mins The unexpected loss of output from wind turbines compels UK to turn to an alternative; It's not what you think!
  • 7 hours The Painful Death of Coal
  • 22 hours China Sees Opportunity As Venezuela’s Oil Industry Hits Rock Bottom
  • 5 days Ozone layer destruction driving global warming
Editorial Dept

Editorial Dept

More Info

Global Energy Advisory May 11th 2018

The U.S. withdrawal from the Iran nuclear deal is now a fact and the market has reacted as expected, namely with a knee-jerk reaction that saw Brent and WTI both jump by over 2 percent a day after President Trump made his announcement and continue climbing up.

The implications of the U.S. withdrawal are multi-faceted. That sanctions will return, cutting a portion of Iranian exports off global markets is only one facet. Another is that Trump’s decision sets U.S. Middle Eastern policy on a different course from the United States’ Western European allies, who are still committed to upholding the deal. A third, and perhaps the most serious, is that tensions in the Middle East will rise now.

With regard to oil prices and fundamentals, most analysts agree that the gravity of the effect U.S. sanctions against Iran will have is questionable. While some U.S. allies such as Japan and South Korea will likely opt not to anger their Big Brother and stop importing oil from Iran, others, such as China and India, will continue buying Iranian crude as they are not dependent on the United States for their national security.

Yet interestingly enough, South Korea is now looking for ways to continue importing Iranian crude, its economic ministry said a day after Trump’s announcement. Japan, for its part, has joined the European signatories in the Iran deal in condemning the U.S. President’s decision.

Meanwhile, Saudi Arabia has signaled it is ready…




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News