Iran’s Oil-Market Realities: How Buyers Are Positioning for U.S. Sanctions - Bloomberg:
In three months’ time, U.S. sanctions on Iran are due to enter into force that could drive the Persian Gulf nation’s exports down toward zero and upend the global oil market. There are already signs that it will be harder for the country to export, as some international insurers stop covering shipments.
The U.S. measures require buyers to cut purchases or run the risk of their banks being excluded from the American financial system. If they do scale back, then there’s a risk of spiraling crude prices.
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