Oil

According to analysts. Iran’s crude oil exports have fallen sharply due to US sanctions.

Oil prices rose on Friday. supported by signs that US sanctions on Iran are already reducing global crude supply.

Trump’s administration is pushing allies to cut imports of Iranian oil to zero.

Fifteen of the 25 analysts polled by International Business Times expect Iran’s sanctions to drive oil prices up.

The Trump administration will offer 11 million barrels of crude from its reserves.

In U.S. oil markets. a decline in commercial crude inventories provided WTI with stronger support than Brent.

The United States is showing interest in the participation of Russian businesses.

Timing may reflect the White House’s concern over a tight oil market.

Saudi Arabia might be seeking to expand its oil production by building an oil port in Yemen’s al-Mahra governorate.

Iran is keen to keep its single biggest oil customer—China—when U.S. sanctions on Iranian oil exports kick in later this year.