- Tough U.S sanctions targeting Iran’s critical energy sector come into force at midnight, as well as fresh measures against the nation’s shipping and financial industries.
- Eight countries – including Turkey, Italy, India, Japan and South Korea – will receive temporary six-month waivers allowing them to continue to import Iranian petroleum products as they move to end such imports entirely, but the Islamic Republic can only spend the money on a narrow range of humanitarian items.
- Iran exported the equivalent of 2.5M barrels a day in April, before the announcement of sanctions turned away buyers.
- ETFs: USO, OIL, UWT, UCO, DWT, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM, WTIU, OILK, OILX, WTID, USOI, USOU, USOD, OILD, OILU, USAI
Read more at : https://www.investing.com/news/stock-market-news/oil-market-on-alert-before-iranian-sanctions-1673207