Email Facebook Twitter

London South East Natural Resources Briefing webcast: #Emmerson #Alba #Condor Gold #Gold analysis
Angus Energy in talks to buy 'transformational' gas asset in North England

Westminster Group Share Chat (WSG)

Share Price: 7.25Bid: 7.00Ask: 7.50Change: 0.60 (+9.02%)Riser - Westminster
Spread: 0.50Spread as %: 7.14%Open: 6.65High: 7.75Low: 6.65Yesterday’s Close: 6.65

Share Discussion for Westminster Group

View all WSG Messages

Please login or register to post a message on Share Chat.

Posts per page:

Posts: 1,113
Opinion:No Opinion
More to do with oil than JCPOA
15 Mar '19
But the effort noticeably stops short of cutting Iran’s exports to “zero,” as top U.S. officials repeatedly discussed last year. “Zeroing out could prove difficult” one source with knowledge of the deliberations told Reuters. The source added that a Brent price of $65 was “the high end of Trump’s crude price comfort zone.” Brent topped $68 per barrel during midday trading on Thursday.

President Trump hates high gasoline prices more than he hates the Iranian regime. The U.S. backtracked on its bellicose position last year when Brent surged above $80 per barrel just ahead of the implementation of sanctions. It’s doubtful that this time would be any different. Cutting Iran’s oil exports to 1 mb/d is a much more attainable goal than zero.

Importantly, the U.S. won’t have the help of Saudi Arabia this time around. Riyadh ramped up oil production to 11 mb/d last year, adding more than 1 mb/d in new supply in the months leading up to sanctions. When the U.S. backtracked, prices crashed because the market was suddenly not as tight as everyone had expected.

Having been burned by Trump, the Saudis are unlikely to be as amenable to his demands for more production. “The way that the Saudis were misled by the U.S. president concerning Iran sanctions is something that they can still taste,” Ed Morse, head of commodities research at Citigroup, told Bloomberg. The difference the tone coming out of Riyadh between 2018 and 2019 is stark. Last year, the Saudis tried to soothe the market, repeatedly reassuring everyone on adequate supply. They, along with their partners, abandoned their production cuts to avoid price spikes

Share Price, Share Chat, Stock Market news at
FREE Member Services
- Setup a personalised Watchlist and Virtual Portfolio.
- Gain access to LIVE real-time Regulatory News (RNS).
- View more Trades, Directors' Deals, and Broker Ratings.
Share Price, Share Chat, Stock Market news at

Datafeed and UK data supplied by NBTrader and Digital Look. While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.