Iranian oil offers to Chinese buyers have declined due to the tightening of US sanctions on Iran’s oil exports. These sanctions have disrupted shipments and caused Chinese buyers to pull back. The price of crude oil could reach new all-time highs, with a 14% probability estimated by December 31, up from 12% a week ago. Markets are monitoring the response from OPEC and the International Energy Agency, which could influence global oil supply dynamics.
Source: Read the original article
