Energy

Oil falls 1% ahead of US announcement to impose further sanctions on Iran - Reuters

Source: Reuters

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DW NOTE

Oil fell on the prospect of more sanctions against a country that already cannot export through Hormuz — where transits are down 88% from baseline. The market is pricing normalization while Iran's supreme leader still hasn't approved the August 5 reopening draft. Additional sanctions don't move supply when the chokepoint is physical, not legal.

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Kuwait’s crude oil exports have rebounded to about 1 million barrels per day (bpd), recovering to two-thirds of the 1.6 million bpd shipped through the Strait of Hormuz before the Iran war, according to a senior official at state-owned Kuwait Petroleum Corporation (KPC). Kuwait has managed to ramp u

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Oil falls 1% ahead of US announcement to impose further sanctions on Iran - Reuters

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