OIL MARKETS

摘要

On 8 May 2018 the US announced it is abandoning the 2015 nuclear agreement with Iran and is reimposing "the highest level of economic sanctions". Iranian oil consumers have 180 days to wind down their trade with the country, i.e. a deadline of November 4. But as with 2012-15, the US will consider allowing countries to continue importing Iranian crude as long as they demonstrate they are significantly reducing those volumes every 180 days. At the time, the legislation was interpreted as requiring a 20% reduction in purchases over 180 days compared with the preceding six-month period. Following the announcement, crude prices jumped to their highest in over three years, with Brent rising to over $79/bbl in the days following.