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The Moment Of Truth For Trump’s Iran Waivers

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.

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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

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- 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…




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