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« Last post by Crafty_Dog on Today at 07:38:22 AM »
BTW oil has dropped $3-4 in the last few days.
FO:
(1) BIDEN WILL KEEP IRAN OIL FLOWING DESPITE SANCTIONS BILL: Capital Alpha Partners director Jim Lucier said, “Oil traders are nonchalant because they know Biden will certainly sign whatever waivers are necessary to keep Iranian oil flowing into the market just as he is keeping Russian barrels flowing into the market.”
A person familiar with the matter said the Biden administration is still analyzing the Iran sanctions bill, but no impact on oil markets is expected before the fall.
According to Clearview Energy Partners, the sanctions bill, if implemented, would increase global oil prices by $8.40.
Why It Matters: The Biden administration is focused on maintaining energy price stability ahead of the election and is more likely to pursue sanctions against Iran in other sectors like military production to prevent global oil price fluctuations. The Biden administration ran into similar issues with sanctions against Russia, and economic interdependence means the U.S. economy will be impacted by sanctions against foreign adversaries that produce energy or other critical inputs. – R.C.