Iran sanctions won’t change the oil game

Donald Trump’s decision to reinstate sanctions on Iran, the world’s fifth-biggest oil producer, has given oil prices another boost, but oil bulls shouldn’t get too confident.

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Iran will continue to pump and sell its oil
(Image credit: Credit: eFesenko / Alamy Stock Photo)

There goes another "chunk of the world's crude supply", says The Wall Street Journal. The Trump administration's decision to reinstate sanctions on Iran, the world's fifth-biggest producer, has given oil prices another boost. Brent futures have eclipsed $78 a barrel, the highest price since late 2014. Prices have risen by 50% since the summer of 2017, and by almost a fifth since the beginning of this year.

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Andrew Van Sickle
Editor, MoneyWeek

Andrew is the editor of MoneyWeek magazine. He grew up in Vienna and studied at the University of St Andrews, where he gained a first-class MA in geography & international relations.

After graduating he began to contribute to the foreign page of The Week and soon afterwards joined MoneyWeek at its inception in October 2000. He helped Merryn Somerset Webb establish it as Britain’s best-selling financial magazine, contributing to every section of the publication and specialising in macroeconomics and stockmarkets, before going part-time.

His freelance projects have included a 2009 relaunch of The Pharma Letter, where he covered corporate news and political developments in the German pharmaceuticals market for two years, and a multiyear stint as deputy editor of the Barclays account at Redwood, a marketing agency.

Andrew has been editing MoneyWeek since 2018, and continues to specialise in investment and news in German-speaking countries owing to his fluent command of the language.