Iran oil exports fall before US sanctions: global banking group

President Donald Trump

President Donald Trump

Quite frankly, if we pull back from here it should be looked at as a potential buying opportunity and what should be a very bullish market going forward as the trade wars heat up, one of the sanctions that has been put on is the Iranian oil sanctions, and that has a tightening effect on supply obviously.

The price of Brent crude oil has reached its highest since November 2014 and could strengthen further amid concerns that the world's major oil producers would struggle to increase output, as called for repeatedly by US President Donald Trump, even if they wanted to.

Trump, who spoke at the United Nations General Assembly in NY yesterday, lashed out at OPEC and its allies for keeping oil price high, saying that high oil prices negatively affect the economies of the world.

Iranian Minister of Petroleum has welcomed OPECs decision effectively rebuffing President Donald Trump's calls for a hike in oil output, saying U.S. empty dream to zero Irans oil exports would not realize.

"We view that crude market risks are heavily skewed to the upside and whilst we are not explicitly forecasting Brent to rise to $100 per barrel, we see material risks of this coming to fruition", Japanese bank Mitsubishi UFJ Financial Group said in a note to clients.

Oil prices jumped more than two per cent to a four-year high on Monday after Saudi Arabia and Russian Federation ruled out any immediate increase in production.

Aamir, Amitabh and Katrina at ‘Thugs of Hindostan’ Trailer Launch
All in all, Khudabaksh sums up the essence of the film in a few words: "Agaar azadi hai gunah, toh qubul hai sazaa". The much awaited for Yash Raj Films' epic adventure film Thugs of Hindustan was released Thurday morning.

Commercial crude stocks C-STK-T-EIA rose by 1.85 million barrels, to 395.99 million barrels, the EIA data showed.

Expectation of a tightening supply in the global oil market in the coming months has pushed crude oil prices higher, say analysts.

The American Petroleum Institute (API) yesterday reported a build of 2.903 million barrels in United States crude oil inventories for the week ending September 21, compared to analysts' expectations of a draw of 1.279 million barrels.

Earlier on Monday, Oil prices rose by nearly 2 percent as the US sanctions restricted Iranian crude exports, which helped tighten the total global supply.

U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $72.41 a barrel, up 84 cents, or 1.2 percent from their last settlement.

According to the Goldman analysts, led by Damien Courvalin and Jeffrey Currie, production from other OPEC producers and Russian Federation will offset losses out of Iran.

Recommended News

  • Eden Hazard the hero vs Liverpool Spurs Arsenal advance in Carabao Cup

    Eden Hazard the hero vs Liverpool Spurs Arsenal advance in Carabao Cup

    We have got to try and beat Liverpool on Saturday". "He's remarkable", he added. The atmosphere is fantastic, from the Chelsea fans also who were awesome.
    Seal slaps man in the face with an octopus

    Seal slaps man in the face with an octopus

    As the pair sat in a two-man kayak, a blazing blue sky above them, Mr Masuda noticed movement in the water below them. At the end of the clip, Mulinder can be heard letting out a defiant roar amid a raucous response from his peers.
    Tropical Storm Kirk intensifies as it nears Barbados

    Tropical Storm Kirk intensifies as it nears Barbados

    The Lesser Antilles are the islands that comprise the arc-shaped line of islands that form the eastern boundary of the Caribbean. It should not amount to much rain over the Carolinas; good news for areas still recovering from Florence's destruction.
  • Flexible OLED Global Market 2018 - Atmel, Sony, Dupont Display, Delta Electronics

    Flexible OLED Global Market 2018 - Atmel, Sony, Dupont Display, Delta Electronics

    Global OLED Cellphone Display Market 2018 Industry Research Report is segmented into key players, type, application, and region . You will find only accurate and high-quality data in this report that insists on keeping things relevant to the India market.
    US Senate: Halt US Supreme Court Nomination Vote

    US Senate: Halt US Supreme Court Nomination Vote

    In his response email, Koegler wrote, "I remember you telling me about him, but I don't remember his name". Kavanaugh confirmation saga, on the eve of the Senate Judiciary Committee hearing Thursday in which Mr.
    Steelers legend: Le'Veon Bell should return and fake injury

    Steelers legend: Le'Veon Bell should return and fake injury

    Bell has spent his entire career with the Steelers since they drafted him in the second round in 2013 out of Michigan State. But as he aged and drifted down the depth chart, he asked the Pittsburgh front office to release him last season.
  • Meghan Markle Shuts Her Car Door, Stirs Debate On Breaking Royal Protocol

    Meghan Markle Shuts Her Car Door, Stirs Debate On Breaking Royal Protocol

    Social media lit up with those who wanted to have their say on the matter, and opinions were mixed and often humorous. Whether her security is quicker to shut the door for her after this remains to be seen.
    Welbeck a starting option for Arsenal, says Emery

    Welbeck a starting option for Arsenal, says Emery

    Welbeck's second, scored eight minutes before the break, rounded off a superb Gunners move which started with keeper Bernd Leno. But also I want another [strong] player on the bench. "And the players went and asked a question in the second half.

    With bated breath, United Nations awaits another first for Trump

    Russian Federation and China will be represented by their foreign ministers, Sergei Lavrov and Wang Yi. Chinese Foreign Minister Wang Yi speaks during a United Nations Security Council briefing.
  • Bill Cosby's new life as inmate NN7687 in 'state-of-the-art facility'

    Bill Cosby's new life as inmate NN7687 in 'state-of-the-art facility'

    The person said Cosby wanted his wife, who didn't attend his sentencing, to exhaust their resources to get him out of prison. Rea says it often takes time for sexual assault victims to come forward because it takes courage and self-esteem.

    Jurgen Klopp left bemused by VAR in Liverpool loss

    Without the points, Liverpool leaped ahead to first in the Premier League standings while Chelsea slipped to third. This one also is one of the best, especially when you score against a big team and win the game.
    Kavanaugh Denies Sexual Misconduct Charges from 3rd Woman

    Kavanaugh Denies Sexual Misconduct Charges from 3rd Woman

    By turns defensive and combative, Trump also portrayed the allegations against Kavanaugh as part of a Democratic "con game". Swetnick shared that she was the victim of gang rape at one of these parties, and both Judge and Kavanaugh were present .

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.