Oil in Bear Market Set for 5th Weekly Loss on Supply Glut Fears Oil Teeters Near Record Losing Streak After Entering Bear Market

Oil is poised for a fifth weekly loss after slipping into a bear market as record American production, expanding inventories and waivers granted to some countries for Iranian imports stoked concerns of a supply glut. Futures in New York were little changed, heading for a 4.

Iran is likely to ride out the storm from U.S. oil sanctions, suffering recession but no economic meltdown, thanks to rising crude prices and deepening divisions between the United States and other major powers, officials and analysts say.

PressTV-Reuters: Iran to withstand sanctions; US isolated

A European diplomat says the high oil prices and the US’ international isolation would lessen the impacts of new US sanctions on Iran.

Oil remains weak amid concern about rising supply

Brent slips as concern about an economic slowdown weighs on sentiment

Oil prices fell to multi-month lows on Friday as global supply increased and investors worried about the impact on fuel demand of lower economic growth and trade disputes.

It has not been disclosed how much oil will be allowed to import, or under what conditions deals can be made.

Oil’s rollercoaster ride: From forecasts of $100 to 20% fall in a month

Oil’s retreat has increased pressure on OPEC and its allies to cut supply just months after adding barrels

What Israel thinks the U.S. is trying to achieve with renewed Iran sanctions

U.S. may be trying to force Tehran into reopening the nuclear deal, or affect regime change. Either way, the pressure is leading Iran to make grave mistake in Europe

The knowns and unknowns of U.S. Iran oil sanction waivers

Washington had been pushing governments to cut imports of Iranian oil to zero.     Washington and the recipients of the waivers have not disclosed how much oil they are allowed to import, or under what conditions deals can still be made.

Iran Sanctions Test U.S. Diplomatic Power

On Nov. 5, Trump’s Administration made its boldest move yet, restoring crippling penalties on Iran’s oil, banking and shipping sectors.

Oil prices down 20 per cent in a month as fundamentals weaken

U.S. West Texas Intermediate (WTI) crude oil futures were at $61.63 per barrel at 0125 GMT, down 4 cents from their last settlement