Oil Jumps as U.S. Plans to End Iran Waivers After May 2 Expiry
Bloomberg | Sun, Apr 21, 2019
by Sharon Cho, Tsuyoshi Inajima, and Verity Ratcliffe
Oil rose to the highest level in almost six months as the U.S. government was said to eliminate sanction waivers that allowed buyers to import Iranian crude.
Futures in London jumped as much as 3.3 percent to the highest intraday price since early November. Secretary of State Mike Pompeo on Monday will deliver the decision that no waivers from sanctions will be renewed to importers of Iranian oil, according to four people familiar with the matter. The U.S. will also announce offsets through commitments from other suppliers such as Saudi Arabia and the United Arab Emirates.