Bloomberg Surveillance · Tuesday, June 30, 2026
The recent waivers on Iranian crude have significantly impacted the prompt oil market, allowing more Iranian crude to flow freely at market prices. This has increased competition and put downward pressure on prices, especially as it makes a more competitive barrel available to countries like India, which had reduced imports due to previous sanctions.
“What has thefact waivers done for this market? The fact of the matter is a running crude could flow freely at market price.”
“This has been a huge factor, not just the o fact, but the fact that you can transact in dollars. I think has opened up a lot of Iranian crew to the market. Now, what I haven't seen is a tremendous amount of buying outside of China of Iranian crude.”
“But what that does essentially is make Irani and crude available to places like India, which has significantly reduced their imports due to the sanctions, and makes it a more competitive barrel right in the market that can press other things lower.”