24 June 2025: 16:30 BST
Good manners are back! First Trump thanks Iran for the heads up before the theocracy hit the US base in Qatar. Then he doubles up on his graciousness and says openly China can buy Iranian oil! He even said China can “continue purchasing” Iranian oil – recognising the open secret that China’s been buying shedloads of Iran’s supply for years. This will surely open the floodgates to more nations demanding the right to buy cheap Iranian crude – based on market conversations, there’s certainly appetite in India for cheap Iranian oil if sanctions loosen. Mr T also hopes China will buy “plenty” of US crude. But he’s got to remove the tariffs! Even 10% on oil kills competitiveness of American grades, so only a complete removal of tariffs would see that happen.
In ‘The Officials’, Onyx Capital Advisory publishes outright values, spreads, cracks and boxes for the main energy commodities traded in the marketplace. The published values are determined independently and on a fair market basis by our team of dedicated professionals.
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