Oil prices jump more than 2 percent as US set to end Iran sanction waivers [CNBC]
GE Aerospace (GE)
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Source: CNBC
Oil prices jump more than 2 percent as US set to end Iran import sanction waivers Getty Images prices rallied by more than 2 percent on Monday to levels not seen since November 2018 as a Reuters source familiar with the matter confirmed a report that Washington Iranian Brent crude futures U.S. West Texas Intermediate News that the United States A person familiar with the situation told Reuters the report was accurate, although a State Department spokesman declined to comment. The U.S. reimposed sanctions in November on exports of Iranian oil after President Donald Trump Washington, however, granted Iran's eight main buyers of oil, mostly in Asia, waivers to the sanctions which allowed them limited purchases for half-a-year. An end to the exemptions would hit Asian buyers most. Iran's biggest oil customers are China India South Korea The report comes amid an oil market that is already relatively tight. Secretary of State Mike Pompeo will announce "that, as of May 2, the State Departme
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