Jinshi Futures
If the new US sanctions on Iran are strictly enforced after the passage of Congress, it could increase global oil prices by an additional 8 per cent per barrel.Nodepositcasinobonus2022.40 dollars.
It is widely believed in the oil market that the impact of a new round of potential sanctions imposed by the United States on Iran's oil exports is relatively limited. Congress is pushing ahead with legislation that could take effect this week, giving the president greater sanctions against Iran, but Biden may not make full use of these potential new powers in the near future.
The bill, passed by the U.S. House of Representatives over the weekend, is a response to Iran's attack on Israel earlier this month. In theory, the bill would expand restrictions on Iranian crude oil exports to include foreign ports, ships and refineries that are deliberately involved in Iranian oil transactions.
However, market analysts and policy experts believe that the Biden administration will be careful to avoid actions that may push up international oil prices or domestic gasoline prices, as this will directly affect the cost of living of the American people, especially in an election year.
This situation is similar to the situation in which the Biden administration sanctioned Russia in the conflict between Russia and Ukraine. Despite the sanctions imposed on Russia, the United States has tried to avoid a total blockade of its oil exports in order to prevent tight global oil supplies and the resulting inflationary pressures.
Jim Lucier, managing director of ClearView Energy Partners, an energy policy analysis company, said: "Oil traders are not nervous about this becauseNodepositcasinobonus2022They believe that the Biden administration, like Rosneft, will issue the necessary exemption orders to ensure that Iranian oil can still enter the market. "
The White House National Security Council declined to comment, while a person familiar with the matter said the government is reviewing the bill but is not expected to have a real impact on the oil market until the autumn.
At present, the global oil market is extremely sensitive to any factors that may further limit supply. The price of Brent crude rose above $92 a barrel in early April, its highest level in nearly six months, due to strong global demand and continued OPEC production cuts.
It is estimated that if these new sanctions are strictly enforced, global oil prices could rise by an additional $8.40 a barrel, which is undoubtedly bad news for the Biden administration. Biden has used the national strategic oil reserve because of the surge in fuel prices in 2022, and U.S. gasoline prices have risen during the year, although they have not reached their then high levels, and the summer driving peak is just around the corner.
Fernando Ferreira, director of geopolitical risk services at Rapidan Energy Group, believes that the Biden administration may not actively enforce these sanctions.
However, if the provocative actions of Iran and its agents against Israel escalate, the Biden administration may come under more pressure to continue to defend the immunity policy. "if Iran continues its regional 'aggression' and the US government still uses immunity, the political consequences could be as serious as high oil prices," ClearView Energy Partners's Kevin Book warned.
