03262019Tue

India-oil imports

Iran Focus

London, 17 Sep - Indian oil refiners will reduce their monthly imports of crude from Iran by roughly half for the months of September and October as the country tries to obtain waivers from US sanctions targeting Iran that are due to go into place in November.

India’s oil imports from Iran will drop to less than 12 million barrels in September, and again in October, after four months of increased purchases in anticipation of the reduction.

India is Iran’s second-biggest oil importer behind China, and does not recognise the US sanctions, but will still have to obey them, if it is unsuccessful in getting a waiver, or risk being cut off from the US financial system. The waivers won’t be easy to get either.

Iran-Oil-U.S.-Sanctions

Iran Focus

London, 15 Sep - According to shipping data and industry sources, after South Korea halted imports from Iran and China's demand dropped, two tankers carrying about 2.4 million barrels of South Pars condensate combined, have been floating off the United Arab Emirates since August.

As re-imposed sanctions loom, Iran is facing heavy pressure. Washington is attempting to bring Iranian oil exports down to zero and force Tehran to re-negotiate the nuclear deal, which the US abandoned last May.

Oil prices rise as US sanctions on Iran increase

Iran Focus

London, 12 Sep - Oil prices soared on Tuesday as US sanctions put increased pressure on Iranian crude exports, which restricted global supply despite the US’s efforts to get other oil-producing countries to increase their output.

This resulted in Brent crude oil rising to $77.88 a barrel (up 51 cents) and US light crude rising to $67.71 a barrel (up 16 cents).

Tamas Varga, an analyst at London brokerage PVM Oil said: "The impact of the U.S. sanctions on Iran is firmly being felt.”

Tensions flare in Tehran over the economy

Iran Focus

London, 13 Sep - Tensions are growing in Tehran’s Grand Bazaar as US sanctions, a failing economy, and a heaving devalued Iranian rial push merchants and shoppers alike to the breaking point.

Shopkeepers are trying to leave the country and angrily cursing the government’s corruption for the current economic crises, while buyers have lost their purchasing power and are now struggling to make ends meet. These are not isolated individuals, but representative of the Iranian people’s growing demand for regime change, which is the only way to solve the crisis.

As U.S. drilling stalls and Iran Sanctions Loom, Oil Prices Jump

Iran Focus

London, 11 Sep - On Monday, oil prices rose as U.S. drilling stalled and new U.S. sanctions against Iran’s crude exports are set to go into effect in November. Experiencing a jump to $1.09 a barrel, Brent crude oil reached a high of $77.92. U.S. light crude jumped to $68.30 a barrel.

Harry Tchilinguirian, oil strategist at French bank BNP Paribas said, “A higher oil price scenario is built on lower exports from Iran due to U.S. sanctions, capped U.S. shale output growth, instability in production in countries like Libya and Venezuela and no material negative impact from a U.S./China trade war on oil demand in the next 6-9 months.” He told Reuters Global Oil Forum, “We see Brent trading above $80 under (that) scenario.”

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