AAA Daily Fuel Gauge Report for Friday, 6/08/18

American Dollar to Canadian Dollar = 0.800895; American Dollar to Chinese Yuan = 0.151079; American Dollar to Euro = 1.181784; American Dollar to Japanese Yen = 0.008840; American Dollar to Mexican Peso = 0.052958.

American Dollar to Canadian Dollar = 0.783927; American Dollar to Chinese Yuan = 0.157838; American Dollar to Euro = 1.099316; American Dollar to Japanese Yen = 0.008557; American Dollar to Mexican Peso = 0.047890.

The expectation that sanctions will again frustrate Iran’s oil industry and limit global supply has helped to boost prices close to 5% since the announcement. In the past, sanctions against Iran have cut the country’s crude exports by around 1 million barrels a day. But because the European Union and other intentional players have decided to stick with the deal, U.S. sanctions are likely to affect only up to around 350,000 barrels a day, once reinstated within six months’ time, according to analysts at MUFG Bank. The surge in prices this week prompted renewed oil market speculation that Brent could again reach $100 a barrel — a level not seen since before the price crash of late 2014. Click Read More below for additional information.