TAG Iran

Oil falls to $83 as Iran sanctions near

Oil dropped to around $83 a barrel on Monday, pressured by expectations that some Iranian oil exports will keep flowing after the U.S. re-imposes sanctions, easing a strain on supplies. Two companies in India, a big buyer of Iranian oil, have ordered barrels in November, India’s oil minister said on Monday. The Trump administration is…

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India places order for Iranian oil ahead of US sanctions

Two Indian oil companies have placed orders to import Iranian crude next month, Oil Minister Dharmendra Pradhan said Monday, defying a call from President Donald Trump’s administration for countries to completely cut-off the Islamic republic. U.S. sanctions targeting Iran’s crude oil exports come into force from November 4, with Washington ratcheting up the pressure on governments and companies around…

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OANDA Market Insights podcast (episode 27)

OANDA Senior Market Analyst Alfonso Esparza reviews the week’s business and market news with Jazz FM Business Breakfast presenter Jonny Hart. This week’s biggest stories: US sanctions against Iran, Turkish lira collapse after steel sanctions and market reaction to UK GDP data Big revisions offset July miss on payrolls Another strong US jobs report expected…

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Iran and Venezuela Could Keep Oil Elevated

Potential oil supply disruptions in Iran and Venezuela have prompted oil traders to focus on geopolitics rather than fundamentals, the International Energy Agency (IEA) said in its latest monthly report Wednesday, warning that any supply cuts could prompt prices to rocket.”The potential double supply shortfall represented by Iran and Venezuela could present a major challenge…

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Oil Stabilizes After Hitting Multi-Year Highs

Oil prices steadied below 3-1/2 year highs on Monday as resistance emerged in Europe and Asia to U.S. sanctions against major crude exporter Iran, while rising U.S. drilling pointed to higher North American production.Brent crude LCOc1 was up 15 cents at $77.27 a barrel by 1130 GMT. U.S. light crude oil was up 5 cents…

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Dollar Ends Rally Awaiting US Retail Sales Data

The US dollar rally lost momentum during the week and recorded its third day of depreciation versus other major pairs. The USD continues to gain versus emerging market currencies as more signs of a global growth slowdown appear. The US consumer price index (CPI) came in under expectations and raised concerns on how many rate…

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Markets Flat Ahead of BoE Decision

It’s been a relatively flat start to trading on Thursday as we await the latest monetary policy announcement from the Bank of England and the economic projections and press conference that follow. The BoE is due to announce its decision on interest rates shortly and, following an apparent U-turn in recent weeks, policy makers are…

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Oil Highest Since 2014 as US Exits Iran Deal

Oil Gains Drive US Futures Higher It’s been a relatively positive start to trading in Europe on Wednesday, with much of the attention falling on US President Donald Trump’s decision to withdraw from the Iran nuclear deal. Oil is back trading at three and a half year highs this morning after Trump confirmed that the…

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