Iranian oil

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Treasury Sec. Scott Bessent: Wouldn't be surprised if EU put on some tariffs against China
CNBC Television· 2025-07-29 18:57
What can you tell us was agreed to in the room, if anything. Any specific agreements on any of those agenda items that you set up in the in the pregame, as you called it. Uh, well, we we continually uh are perfecting their rare rare earth control system.It was a new system that was put in globally on April 4th and it's been a bit clunky. So you know we we keep pushing them to uh work on that and it's the entire global supply chain because uh the restrictions or the controls aren't just on the US it's on eve ...
Oil gives back gains after U.S. strike: Here's why
CNBC Television· 2025-06-23 15:18
Oil Market Dynamics - Oil prices initially spiked following US strikes on Iran but later decreased [1] - US oil production direction is likely flat to down, despite potential incentives from higher oil prices [3] - Easing permitting processes in areas like Alaska could incentivize more drilling [6] - OPEC is adding 400,000 barrels a day, increasing global oil supply [7] Geopolitical Risks & Shipping - The Strait of Hormuz has never been closed, even during the Gulf War [8][9] - Increased risk in the Strait of Hormuz has led to shipping day rates rising from $24,000 to $100,000 per day [10] - Almost all exported Iranian oil is bought by China [11] - Potential disruptions could occur at Bab el Mandeb strait and the Suez Canal, in addition to the Strait of Hormuz [13] Iranian Oil & Sanctions - Iran exports 15 million barrels of oil a day, despite sanctions [15] - Disruption of the Strait of Hormuz would be economic suicide for Iran, as 90% of its oil is exported from Kharg Island [14]