U.S. Treasury abruptly revokes general license for Iranian crude oil…oil prices rise (7day)
The U.S. Treasury Department 7revoked the general license allowing sales of Iranian crude oil on day, while news of tankers being attacked in the Strait of Hormuz followed one after another that same day, sending international oil prices higher. Investors need to check market fluctuations in the refining and shipping sectors.
The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced that it had revoked Iran General License X, which had temporarily allowed the sale of Iranian crude oil and petroleum products, on 7day. On the same day, the United Kingdom Maritime Trade Operations (UKMTO) said that a tanker sailing in the Strait of Hormuz had been attacked three times within the past 24hours.
On the New York Mercantile Exchange, 8month-delivery West Texas Intermediate (WTI) crude oil 7on day (U.S. Eastern Time), compared with the previous session, rose 1.89dollars(2.76%) to close at 70.44dollars per barrel. Brent crude oil’s 9month contract rose 2.17dollars(3.01%) from the previous session to close at 74.16dollars per barrel.
UKMTO said that a tanker was attacked by an unidentified unmanned aerial vehicle (UAV) and suffered minor structural damage. Reports said that no casualties or environmental damage had been reported and that the damaged vessel was continuing to sail to its next port of call.
The OFAC notice stated that the general license would remain in effect until next month 21but that a decision had now been made to revoke it. The announcement date was 7.
The above three reports were all released primarily on 7(local time). The article recommends separately checking for any additional disclosures by each company or government announcements.
Sources: 연합인포맥스
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