{"id":17381,"date":"2018-09-12T16:27:26","date_gmt":"2018-09-12T16:27:26","guid":{"rendered":"https:\/\/allworldsnews.com\/economy\/oil-pushes-past-80-as-iran-fears-mount\/26"},"modified":"2018-09-12T16:27:26","modified_gmt":"2018-09-12T16:27:26","slug":"oil-pushes-past-80-as-iran-fears-mount","status":"publish","type":"post","link":"https:\/\/pornvas.com\/?p=17381","title":{"rendered":"Oil pushes past $80 as Iran fears mount"},"content":{"rendered":"<div class=\"b-article-ext\"><img loading=\"lazy\" decoding=\"async\" alt=\"Oil well in South Texas\" src=\"http:\/\/allworldsnews.com\/wp-content\/uploads\/2018\/09\/oil-pushes-past-80-as-iran-fears-mount-5b993e6e3c92d.jpg\" width=\"976\" height=\"549\"\/> Image copyright Reuters <\/p>\n<p>Oil has risen above $80 a barrel to its highest level this year amid concerns about supplies from Iran and a fall in US stockpiles.<\/p>\n<p>Brent crude rose more than 1% to $80.13 &#8211; the first time it has breached $80 since late May. <\/p>\n<p>The rise reflects concern about the impact of US sanctions against Iran that will target oil exports.<\/p>\n<p>&#8220;Iran is increasingly becoming the preoccupation of the crude market,&#8221; said consultants JBC Energy.<\/p>\n<p>&#8220;The last couple of weeks have seen the expected squeeze on Iranian crude flows taking shape, with overall outflows down markedly.&#8221;<\/p>\n<div id=\"bbccom_mpu_1_2_3\" aria-hidden=\"true\">  <\/div>\n<p>Gordon Gray, HSBC&#8217;s global head of oil and gas equity research, said there were &#8220;real risks&#8221; that Brent could hit $100 a barrel. <\/p>\n<p>&#8220;The fact that much higher supply is already needed from the likes of Saudi Arabia &#8211; and the low levels of spare capacity remaining &#8211; leave the global system highly vulnerable to any further significant outage,&#8221; he said.<\/p>\n<h2>&#8216;Huge uncertainty&#8217;<\/h2>\n<p>Russian energy minister Alexander Novak said global oil markets were fragile due to geopolitical risks and supply disruptions.<\/p>\n<p>He also warned of the impact of US sanctions against Iran: &#8220;This is a huge uncertainty on the market &#8211; how countries, which buy almost 2 million barrels per day of Iranian oil, will act. The situation should be closely watched, the right decisions should be taken.&#8221; <\/p>\n<p>Opec, the Organization of the Petroleum Exporting Countries that accounts for 40% of global production, cut its forecast for oil demand growth next year in its monthly report.<\/p>\n<p>Oil traders were also watching the progress of category 4 Hurricane Florence, which is expected to make landfall in the US by Friday.<\/p>\n<p>US crude rose 91 cents to $70.16 a barrel.<\/p>\n<p>In January Brent crude hit $70 a barrel for the first time since December 2014.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Image copyright Reuters Oil has risen above $80 a barrel to its highest level this year amid concerns about supplies from Iran and a fall in US stockpiles. Brent crude rose more than 1% to $80.13 &#8211; the first time it has breached $80 since late May. The rise reflects concern about the impact of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17379,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[128],"tags":[419,8002,8003,2424,8004],"class_list":["post-17381","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-iran","tag-nyse","tag-oil-hits-75","tag-oil-prices","tag-total-sa"],"_links":{"self":[{"href":"https:\/\/pornvas.com\/index.php?rest_route=\/wp\/v2\/posts\/17381","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pornvas.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pornvas.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pornvas.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pornvas.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17381"}],"version-history":[{"count":0,"href":"https:\/\/pornvas.com\/index.php?rest_route=\/wp\/v2\/posts\/17381\/revisions"}],"wp:attachment":[{"href":"https:\/\/pornvas.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17381"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pornvas.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17381"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pornvas.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17381"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}