Oil stays wary on potential sanctions against Iran – Danske Bank

Arne Rasmussen, Head of FI Research at Danske Bank, assessed the recent headlines regarding the oil market.

Key Quotes

“In terms of oil markets, another US official yesterday spoke out against pulling out of the Iran nuclear deal, which should further dampen concerns in the oil market that sanctions could hit Iran’s oil exports again”.

“More comments from Russia suggest that OPEC and Russia are working on a deal to extend output cuts to end-2018. Today, commodity markets will keep an eye on USD with the US jobs report on the calendar as well as the US oil rig count due tonight”.