• 3 minutes UAE says four vessels subjected to 'sabotage' near Fujairah port
  • 6 minutes Why is Strait of Hormuz the World's Most Important Oil Artery
  • 8 minutes OPEC is no longer an Apex Predator
  • 12 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 12 hours Did Saudi Arabia pull a "Jussie Smollett" and fake an attack on themselves to justify indiscriminate bombing on Yemen city population ?
  • 11 hours "We cannot be relying on fossil fuels to burn as an energy source at all in our country" - Canadian NDP Political Leader
  • 12 hours Solar Industry Lays Claim To The 2020s; Kicks Off The Solar+ Decade
  • 7 hours China Downplays Chances For Trade Talks While U.S. Plays ‘Little Tricks’
  • 1 hour California Threatens Ban on ICE Cars
  • 1 min Canada's Uncivil Oil War : 78% of Voters Cite *Energy* as the Top Issue
  • 1 day DUG Rockies: Plenty Of Promise, Despite The Politics
  • 20 hours Iran v USA the perfect fire triangle
  • 17 hours U.S. and Turkey
  • 10 hours Shell ‘to have commercial wind farms’ by early 2020s
  • 8 hours Get First Access To The Oilprice App!
  • 1 hour How can Trump 'own' a trade war?
  • 2 hours China, U.S. Hold 'Productive' Trade Talks In Beijing

The Moment Of Truth For Trump’s Iran Waivers

Trump

Brace yourself for a post-waivers era of total Iranian sanctions – this is the key message that the Trump Administration wants to convey to the global oil and gas community. It might be a subtle ruse to wrestle out further concessions from China and India, it might be a less subtle way of obfuscating the failure of another US-backed anti-Maduro coup in Venezuela (and that is quite something given the overall incompetence and crookery of the current Venezuelan elite) or it may well be the truth. Only time will tell.

(Click to enlarge)

We will see next week whether the threat will be carried through and how China, India, Turkey and other concerned parties will react if it is. What is undeniable however, is the spike in crude oil prices earlier this week, hitting a six-week high after the White House announced the end of all Iran sanctions waivers. By Wednesday crude prices had retreated somewhat on the back of an expected robust US commercial crude stock buildup, with Brent trading around $71.8-72 per barrel, whilst WTI was trading in the $63.4-63.6 per barrel interval.

1. Russia’s Crude Quality Botchup Shakes European Market

(Click to enlarge)

- Europe experienced an unexpected form of market panic due to a rare excess concentration of organic chlorides in the world’s largest trunk pipeline, the Druzhba pipeline supplying Central Europe from Russia.

- Reportedly, the 1.2mbpd pipeline was contaminated at the…




Oilprice - The No. 1 Source for Oil & Energy News