Wednesday , October 5 2022

Oil prices in the US, such as US sanctions, begin, Tehran challenges


"We don't get the price rally that many participants think they will get out of Iran sanctions," Yawger said.

Brent crude oil was 34 cents, that is, half a decade, $ 73.17 / barrel, 2:30 pm ET. The US light move decreased 4 cents Monday to $ 63.10 / barrel.

Both oil criteria have shifted more than $ 13 a barrel since reaching the highest level in four years in early October. Hedge funds lowered bullish bets towards a one-year low level in crude oil.

US Secretary of State Mike Pompeo, said in a statement on Monday, the US & # 39; s eight countries – China, India, Greece, Italy, Taiwan, Japan, Turkey and South Korea – said that he is allowed to continue to take Iranian oil temporarily. Some of these are OPEC's largest customers in Iran.

US officials, the purpose of sanctions at the end of Iran should stop all oil exports, he said.

More than 20 countries have cut their imports of oil from Iran and purchases have declined by more than 1 million barrels per day, Pompeo said.

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