Iran has reportedly stopped its crude oil shipments to six European countries in a preemptive strike against European sanctions against Iran that would have been put into effect in July. The six countries that have been cut off by Iran are Netherlands, Greece, France, Portugal, Spain and Italy. Of those six, three — Greece, Italy, and Spain — receive about 65% of their crude supplies from Iran.
Reaction in the crude market has been somewhat muted. On the Intercontinental Exchange, both Brent and WTI are up less than 1%, while on the Nymex, physical barrels of Brent are up about 1.2% for April delivery and 1.8% for May delivery.
Essential Tips for Investing (Sponsored)
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.