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Iran's Oil-Supply Losses May be Bigger This Time -- Market Talk

26 Jul 2018 6:43 am

0643 GMT - Oil markets will probably have to brace for bigger supply losses than during prior US sanctions regimes against Iran, says RBC commodity strategy chief Helima Croft. That's "because the Trump administration is prepared to be much-more aggressive in using the sanctions." She sees the White House's aim being "to basically take Iran out of the market. That was not the goal of the Obama administration." She estimates that 600,000-700,000 barrels/day of oil won't reach the market by 4Q and likely top 1 million in 1Q. The sanctions will be phased in through November. (biman.mukherji@wsj.com)
 

(END) Dow Jones Newswires

July 26, 2018 02:43 ET (06:43 GMT)

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