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US crude sanctions against Iran could make maintaining the world’s oil supply ‘very challenging,’ IEA says

  • The IEA's closely watched report comes shortly after the re-introduction of U.S. sanctions against Iran, which from November will also include oil exports.
  • "As oil sanctions against Iran take effect, perhaps in combination with production problems elsewhere, maintaining global supply might be very challenging and would come at the expense of maintaining an adequate spare capacity cushion," the Paris-based organization said Friday.
  • For the trading week, Brent is on course to register a near 2 percent fall, while WTI is set for a drop of almost 3 percent.

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