OIL MARKET IMPACT IN FOCUS
The primary two tankers seized in latest days have been working on the black market and supplying oil to nations underneath sanctions, Kevin Hassett, director of the White Home’s Nationwide Financial Council, mentioned in a tv interview. He downplayed the potential affect on US gas costs, saying the seizures concerned solely a small variety of ships.
Some analysts, nonetheless, warned the newest motion may elevate oil costs barely when Asian markets open on Monday, as merchants weigh the chance of additional disruptions to Venezuelan exports. Others mentioned the seizures may heighten geopolitical tensions and add stress to the shadow fleets used to move oil from sanctioned producers akin to Venezuela, Russia and Iran.
Whereas tighter logistics may pressure sanctioned crude to be bought at deeper reductions, analysts mentioned the standoff underscores rising uncertainty in international oil markets as Washington intensifies enforcement of its sanctions regime.
