EU oil sanctions on Iran come into full force today as exemptions on some contracts and tanker...
EU oil sanctions on Iran come into full force today as exemptions on some contracts and tanker insurance - which has been key in enforcing the embargo - expire. The IEA has forecast that the measures will remove around 1M bpd from oil markets. Brent oil surged 7.05% on Friday and WTI jumped 9.3%, although that was attributed to short covering following the EU summit deal.
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