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Price Rises as Oil Regains Earlier Losses
May 24, 2021, 11:45 AMAvailable to premium subscribers only.
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Oil Market Update: Oil Retreating As the End of Iran Oil Sanctions Is Near
May 20, 2021, 10:22 AMThe Iran deal is almost near completion, which means the sanctions on Iran oil exports are going to be lifted soon. In the absence of any other strong indicator, the market is finally reacting to Iranian oil.
Oil Market: Key Updates
- Iran president Rouhani says a broad outline has been reached to end oil sanctions with just a few steps remaining to reach the final deal. The US has agreed to lift key sanctions such as on oil, petrochemicals, shipping, insurance & the central bank.
- Swiss bank UBS is expecting US demand to catch up to pre-COVID levels by the end of next month with the Brent oil price of $75 for a barrel in the second half of it.
- EU oil demand keeps rising mainly due to large vaccination drives.
- India still struggles with a large number of Covid-19 cases – daily new cases are coming down, but daily deaths keep on increasing.
The key news for oil is the imminent addition of Iranian oil to the market which is expected to have a mellow bearish impact in the short term.
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Nishant Jain, MBA, CPSM
Oil Trading Strategist -
Oil Falls as Iran-US Deal Nears Conclusion
May 19, 2021, 12:24 PMAvailable to premium subscribers only.
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Oil’s End Is Near as per IEA’s Roadmap
May 18, 2021, 11:01 AMAvailable to premium subscribers only.
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