$USO IEA: Iran sanctions pressure world's oil s
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Posted On: 08/10/2018 10:58:17 AM
$USO
IEA: Iran sanctions pressure world's oil supply
"As oil sanctions against Iran take effect... maintaining global supply might be very challenging and would come at the expense of maintaining an adequate spare capacity cushion," the IEA said in latest monthly report. "Thus, the market outlook could be far less calm at that point than it is today."
Trade tensions and expectations of reduced growth are still weighing on crude prices this week, with Brent on course to register a near 2% fall and WTI set for a drop of almost 3%.
IEA: Iran sanctions pressure world's oil supply
"As oil sanctions against Iran take effect... maintaining global supply might be very challenging and would come at the expense of maintaining an adequate spare capacity cushion," the IEA said in latest monthly report. "Thus, the market outlook could be far less calm at that point than it is today."
Trade tensions and expectations of reduced growth are still weighing on crude prices this week, with Brent on course to register a near 2% fall and WTI set for a drop of almost 3%.
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