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AMERICAS OIL: WTI crude has edged lower

AMERICAS OIL

WTI crude has edged lower from a low of $74.11/bbl yesterday as Washington’s next steps in its maximum pressure campaign on Iran are weighed with other supply uncertainties. OPEC+ is yet to decide on the planned return of production, Iraq is looking to restart Kurdistan oil exports and Ukraine peace negotiations could ease sanctions on Russia.

•     The U.S. Treasury department has sanctioned some Iran related oil companies. The list shows 13 new vessels added to the OFAC list along with individuals and terminals related to the trade.

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WTI crude has edged lower from a low of $74.11/bbl yesterday as Washington’s next steps in its maximum pressure campaign on Iran are weighed with other supply uncertainties. OPEC+ is yet to decide on the planned return of production, Iraq is looking to restart Kurdistan oil exports and Ukraine peace negotiations could ease sanctions on Russia.

•     The U.S. Treasury department has sanctioned some Iran related oil companies. The list shows 13 new vessels added to the OFAC list along with individuals and terminals related to the trade.

Keep reading...Show less