Oil prices are hovering near six-month highs at around $63 per barrel for the benchmark West Texas Intermediate crude.
| Outguessing Oil Brinksmanship | | Oil prices are hovering near six-month highs at around $63 per barrel for the benchmark West Texas Intermediate crude. Those in the market to trade energy contracts are about to witness a game of multi-dimensional oil market chess and the outcome will help drive the narrative of the global economy for months. | | The opening move was the recent announcement from the Trump administration that waivers previously granted to countries that wanted to import oil from Iran would be zeroed out. | | Last May, when President Trump pulled out of the Iran nuclear deal, the administration warned that countries that continued to buy Iranian oil faced sanctions from the U.S., such as being denied critical access to U.S. capital markets. | | | | |
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