Oil drops below $83 on expectations Iran will maintain some exports after US re-imposed sanctions
17:33, 8 October 2018YEREVAN, OCTOBER 8, ARMENPRESS. Oil dropped below $83 a barrel on Monday, pressured by expectations that some Iranian oil exports will keep flowing after the U.S. reimposes sanctions, easing a strain on supplies, Reuters reports.
Two companies in India, a big buyer of Iranian oil, have ordered barrels in November, India’s oil minister said on Monday. The Trump administration is considering waivers on sanctions, a U.S. government official said on Friday.
“One way or another, it looks as though India is going to take some Iranian crude,” said Olivier Jakob of Petromatrix, adding that the development was helping oil to “retrace some of the price surge we saw last week.”
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