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US Ends Waivers on Iranian Oil, Spotlight Turns to Australia’s CPIs

Oil prices surged yesterday, following reports that the US was ready to end waivers granted to buyers of Iranian oil. The reports were confirmed later in the day, when the US announced that buyers must end purchases by May 1st or face sanctions. Now, the spotlight is likely to turn to Australia’s inflation data for March, due out tonight, as investors try to assess the likelihood of a rate cut by the RBA in the months to come.

 

Oil Rallies as US Ends Waivers on Iranian Oil Imports

With most G10 markets closed for Easter holidays, and the economic agenda very light, the center of attention was the energy market yesterday. Oil prices surged during the Asian morning Monday following reports that the US was ready to announce that it will not renew waivers granted to buyers of Iranian oil. The reports were confirmed later in the day, when US President Trump’s administration said that buyers must end purchases by May 1st or face sanctions.

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Tuesday, 23 Apr, 2019 / 7:53

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Source : https://www.jfdbank.com/en/research/us-ends-waivers-on-iranian-oil-spotlight-turns-to-australias-cpis-20190423

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