The strikes reported around targets in Isfahan prompted a jump of more than 4% in crude to above $90 a barrel, before erasing that gain to trade lower on the day as Iranian media seemed to downplay the incident. While central bankers wont have lost sleep at the level it reached, the backdrop isnt comforting.
it s the most heavily sanctioned country in the world. so even the president of iran, ebrahim raisi, is sanctioned. so where do you go from there? you could sanction more militia leaders, more politicians. that ain t going to move the needle. what i think is going to happen are two things. so the us is going to start going after these proxy traders of iranian oil that we re seeing popping up in places like hong kong, singapore, the uae, that are shadowy, you can t see who owns them and they are certainly sending oil to china. the other thing the us is going to do, we think, is going to make it harder for refineries and ports, particularly in china, to take iranian oil. and you ve got two big bills, one of which has gone through the house and senate, one of which is going through senate now in the us, that are designed explicitly to make it difficult for china to take oilfrom iran. philip, very quickly, about 30 seconds, the war premium that had been added on crude prices, is that now g
Indias oil demand is growing amid the global volatility around crude supply and prices. The country has just 75 days of strategic oil buffer, while China, the top oil-importing nation ahead of India, maintains six months of cushion.