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UPDATE 1-Japan will need months to resume Iran oil buys even with nuclear deal - PAJ

Japanese refiners will need at least three months to resume Iranian oil imports even if Tehran's nuclear talks with world powers lead to an agreement and a lifting of sanctions, the head of the Petroleum Association of Japan (PAJ) said on Thursday. ....

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Japan refiners need more time to resume Iran oil imports even with nuclear deal

Japan refiners need more time to resume Iran oil imports even with nuclear deal
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Japan will need months to resume Iran oil buys even with nuclear deal - PAJ

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Japan refiners need 3 mths to resume Iran oil imports even with nuclear deal - PAJ head

By Reuters Staff
1 Min Read
TOKYO, May 27 (Reuters) - Japanese refiners will need at least three months to resume Iranian oil imports even if the Iranian nuclear talks lead to an agreement and a lifting of sanctions, Tsutomu Sugimori, president of the Petroleum Association of Japan (PAJ) said on Thursday.
Sugimori, who also serves as chairman of Eneos Holdings Inc , said the company’s role is to support the Tokyo Olympics as a partner since there are athletes and officials who eagerly want the Games to be held.
Reporting by Yuka Obayashi; Editing by Jacqueline Wong ....

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Oil prices dip on concerns about possible return of Iranian supply |

U.S. West Texas Intermediate crude fell 57 cents, or 0.9%, to $65.64 a barrel.
Oil prices dipped on Thursday, as concern about demand in India and the potential for a rise in Iranian supplies offset optimism over the U.S and European summer driving season.
Brent fell 60 cents, or 0.9%, to $68.27 a barrel by 1121 GMT. U.S. West Texas Intermediate crude fell 57 cents, or 0.9%, to $65.64 a barrel.
“Despite supportive inventory data from the United States on Wednesday, crude oil remains stuck in a sideways environment with Brent trading between $65 to $70 per barrel,” said UBS oil analyst Giovanni Staunovo.
U.S. crude stocks, gasoline and distillate inventories fell last week, the Energy Information Administration said, as a gradual lifting of coronavirus restrictions boosted road fuel demand. ....

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