Oil prices rise ahead of U.S. sanctions on Iran (reuters.com)

Oil prices rose on Wednesday, recovering some ground after two days of losses, as markets braced for the imposition of U.S. sanctions on Iran next week and stock markets clawed back some of their recent losses.

New U.S. sanctions on Iran begin on Nov. 4 and Washington has made it clear to Tehran’s customers that it expects them to stop buying any Iranian crude oil from that date.

Imports of Iranian crude by major buyers in Asia hit a 32-month low in September, as China, South Korea and Japan sharply cut their purchases ahead of the sanctions, government and ship-tracking data showed.
more at source: https://www.reuters.com/article/us-global-oil/oil-prices-rise-ahead-of-u-s-sanctions-on-iran-idUSKCN1N5043

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