Oil prices and approaching Iran sanctions
The price of Brent crude stands at about $84 per barrel, after having risen to $86 per barrel, as the November 5 deadline for imposition of US sanctions against Iran’s oil trade in the world comes closer, raising serious concerns in oil markets. Already, a million barrels of daily Iranian oil has vanished from the international markets. However, there is no shortage. Saudi Oil Minister Khalid al-Falih said few weeks ago that markets had sufficient oil supply. He stressed that there is no oil refinery owner in the world who is looking for ...
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