The US could allow more sanctioned Iranian oil onto global markets even without a revival of the 2015 nuclear accord, reported Reuters, citing a major independent crude trader.
Talks between Iran and the rest of the world have stalled since March, and oil traders were said to be increasingly pessimistic that negotiators would be able to strike a deal.
Mike Muller, head of Asia at Vitol Group, said on Sunday in a podcast produced by Dubai-based Gulf Intelligence that “Uncle Sam might just allow a little bit more of that oil to flow. If the midterms are dominated by the need to get gas prices lower in America, turning a somewhat greater blind eye to the sanctioned barrels flowing out is probably something you might expect to see. US intervention in these flows has always been pretty sparse.”
One reason for the stalling in progress has been the fact that the US confiscated oil from an Iranian-flagged vessel off Greece last month. A few days later Iran retaliated by detaining two Greek tankers in the Persian Gulf.
