Oil Prices Impacted by Renewed Iran Sanctions
With the White House’s recent decision to renew pre-2015 economic sanctions on Iran, oil prices are shifting and investors will be keeping a close eye on a volatile market. If fully implemented in November, the new sanctions aim to greatly reduce Iran’s oil exports, which are currently over 2.5 million barrels per day. According to Mitsubishi oil risk manager Tony Nunan “The market is supported by concerns the sanctions on Iran are going to reduce Iranian oil supply”.
A reduction in Iranian oil exports would lead to a large decrease of the global oil supply and analysts are predicting rising prices. With economic uncertainty and inevitable shifts in the oil market approaching, now is an important time to stay informed.
Keller-Heartt understands that rising oil prices impact your business and always do our best to keep our prices as low as possible. If now is a good time to renew your supply of oil and lubricants, we are currently offering 15% off orders of $1500 or more TRUEGARD products including; Heavy Duty & Automotive Motor Oils, Hydraulic Oils, Cutting Oils and More. Take advantage of this offer by visiting www.kellerheartt.com and entering code ‘TRUEGARD’ at checkout through August 31, 2018.