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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
OIL
Iran’s oil exports have surged this year, primarily heading to China and shrugging off US sanctions. In August and September, they were about 40% higher than during the first quarter of the year, according to data from TankerTrackers.com. (see chart)
- Higher exports led to media reports suggesting the US had given a green light to Iran to boost its exports in and effort to keep more volumes on the water at a time of tightening OPEC+ supply.
- “US officials privately acknowledged back in August that they had gradually relaxed some enforcement of existing sanctions on Iranian oil sales as part of a wider efforts at a diplomatic rapprochement.” according to Bloomberg.
- US Treasury Secretary Janet Yellen denied these claims last week.
- Behind the US, the oil flows out of Iran have been the second highest source of extra supply growth to the markets this year according to TankerTrackers.
- Oil markets remain much higher after the recent attacks in Israel over fears that the US could look to enhance restrictions on Iranian oil - though its will to do so may be limited as it already aims to target Russian flows.
source: TankerTrackers
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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