Oil Prices Climb for Second Day Amid Fresh U.S. Sanctions on Iran and Strong Refining Margins
U.S. Sanctions on Iran: The latest sanctions imposed by the U.S. government have intensified fears of supply disruptions from one of the world’s top oil producers. Iran, the third-largest producer in OPEC, pumped 3.2 million barrels per day in January, according to a Reuters survey. Iraq’s Commitment to Curb Oversupply: The Iraqi oil minister reinforced the country’s commitment to reducing excess production, which could contribute to a more balanced global supply. Strong Refining Margins: Refinery demand remains robust, supporting crude oil prices despite broader market uncertainties.
Recent News
AUDUSD trading at oversold range as per...
October 28, 2024
Market Insights
US Tech 100 Rallies Strongly Bullish Fla...
May 13, 2025
Market Insights
CRUDE OIL Sustaining on lower levels.
February 15, 2025
Market Insights
DOW JONES bounce back from daily support
February 20, 2025
Market Insights
Gold holds firm near two-week high amid...
May 23, 2025
Market Insights
Nasdaq 100 Holds Above Support at 23,310...
August 27, 2025
Market Insights
