Louisiana Light • 2 days | 90.61 | -0.79 | -0.86% | |||
Bonny Light • 1 day | 95.18 | +0.63 | +0.67% | |||
Opec Basket • 2 days | 95.31 | -0.42 | -0.44% | |||
Mars US • 14 hours | 89.29 | +0.91 | +1.03% | |||
Gasoline • 10 mins | 2.588 | +0.026 | +1.01% |
Bonny Light • 1 day | 95.18 | +0.63 | +0.67% | |||
Girassol • 1 day | 96.58 | +0.66 | +0.69% | |||
Opec Basket • 2 days | 95.31 | -0.42 | -0.44% |
Peace Sour • 6 hours | 84.89 | +0.71 | +0.84% | |||
Light Sour Blend • 6 hours | 85.39 | +0.71 | +0.84% | |||
Syncrude Sweet Premium • 6 hours | 93.99 | +0.71 | +0.76% | |||
Central Alberta • 6 hours | 84.89 | +0.71 | +0.84% |
Eagle Ford • 2 days | 86.16 | -0.35 | -0.40% | |||
Oklahoma Sweet • 2 days | 86.25 | -0.25 | -0.29% | |||
Kansas Common • 1 day | 80.75 | +0.75 | +0.94% | |||
Buena Vista • 2 days | 95.63 | -0.10 | -0.10% |
The Labour Party commits to…
The total number of active…
The sanctions against Iran, which prevent any institution from trading with the country, mean that maritime insurers in London are unable to cover any tanker that is working with Iranian crude. This means that tankers transporting Iranian oil have been refused insurance, which has drastically affected Iran’s ability to export its product.
To get over this, large buyers such as India and Japan have been able to offer state-backed insurance to ships, however this is not a viable option to all importers of oil from Iran.
To help, Iran has started using its own supertankers to deliver to its customers. According to data acquired by Bloomberg, the very large crude carrier, The Brawny, left the Iranian port of Kharg Island yesterday on its way to South Korea. The tanker will carry around two million barrels of oil to a 395,000 barrel a day refinery operated by Hyundai Oilbank Co. in Daesan.
SK Innovation Co. also took delivery of a shipment from Iran just a few days ago.
By. Joao Peixe of Oilprice.com
The materials provided on this Web site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.
Nothing contained on the Web site shall be considered a recommendation, solicitation, or offer to buy or sell a security to any person in any jurisdiction.
Trading and investing carries a high risk of losing money rapidly due to leverage. Individuals should consider whether they can afford the risks associated to trading.
74-89% of retail investor accounts lose money. Any trading and execution of orders mentioned on this website is carried out by and through OPCMarkets.
Merchant of Record: A Media Solutions trading as Oilprice.com