Iran sanctions loom as Middle East conflict worsens

As tensions ratchet up over Syria and other pressure points, it looks more likely the US will attempt to reimpose sanctions on Iran As tensions ratchet up over Syria and other pressure points, it looks more likely the US will attempt to reimpose sanctions on Iran.
By Peter Stewart 18 April 2018 0 30503
SDF fighting in Raqqa Amid mounting tensions, it is not difficult to imagine multiple scenarios in which the Middle East is plunged into an all-out conflict. (PA)

Oil prices have surged to their highest levels in three-and-a-half years this month following the dramatic escalation of tensions over the Syrian conflict. Brent crude traded as high as $73.09 per barrel on futures markets, and the corresponding United States marker reached $67.45/bbl on 11 April. If the gains are sustained, it could push up LNG prices by $0.50-1.00/MMBtu when the increase filters through to oil-linked contracts.

Oil and gas markets have been driven by geopolitical risk as fears of a military clash between the US...

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