The US will announce complete cutoff to Iran oil exports

22.04.2019 / 03:02

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The US will no longer remove sanctions for Iran to certain exporters, according to a Washington Post report.

The news will play a major role in the oil price movement this week, as the US is making serious attempts to limit Iran's exports and reduce it to practically zero. In September 2018, the US was expected to be firm, but eventually made partial compromises that led to a fall in the commodity prices in the last quarter of the year.

"On Monday morning, Secretary of State Mike Pompeo will announce to the media that May 2, the State Department will no longer grant relief to sanctions against certain countries currently importing Iranian oil," the report said.

WTI is currently up 28 cents to $ 64.05, but the markets as a whole have not yet covered the news. This should be a great deal of support for the Canadian as well as other major exporters.

Trader Aleksandar Kumanov

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The US will announce complete cutoff to Iran oil exports

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