Thursday , July 7 2022

Exceptions to sanctions against Iran deepen losses to 2.5%


Direct: Oil prices rose by more than 2.5% on Tuesday and the United States released some countries from sanctions against Iran.

Total prices have dropped, indicating that the United States will not be allowed to continue to buy oil from Tehran for the United States to exclude US sanctions against Iran.

India and China were the largest purchasers of Iranian oil from countries exempt from US sanctions.

In recent sessions, unprocessed products have suffered heavy losses, which fell on the seventh day, indicating the world's largest producer of petroleum products.

For the first time in October, United States, Russia and Saudi Arabia reached over 33 million bpd, which means that only three of these countries account for more than a third of the world's oil consumption, estimated at 100 million bpd.

Investors are waiting for the US Energy Information Administration to release oil inventory data on Wednesday, according to preliminary data released by the Oil Institute later in the day.

Till noon At 17:30 GMT, US oil futures for December delivery dropped by 2.6 percent to $ 61.44 per barrel.

During the same period, the price of Brent crude for January delivery dropped by 2.6% to $ 71.26 per barrel.

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