S&P Global Platts Factbox: One-Month Countdown to US Sanctions on Iran’s Oil Buyers

Iran’s oil buyers have a month to halt their trades or risk getting banned from the US financial system for violating secondary sanctions that return November 5.

Oil prices continue to be supported by the deadline and the hard-line enforcement expected by the administration of President Donald Trump. Front-month ICE Brent futures settled above $86/b Wednesday, the highest in four years, before dropping back below $85/b Thursday.

“Iranian export losses have already accelerated faster than we expected,” said Paul Sheldon, S&P Global Platts Analytics’ chief geopolitical adviser…

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