For Global Oil Markets, a US-Iran Deal Is Already Happening

US officials acknowledge lighter touch in enforcing sanctions
Iranian oil exports to China reach highest in a decade: Kpler

WATCH: Energy Aspects says oil demand is surprising to the upside while the market for oil products remains tight.Source: Bloomberg

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By Grant Smith, Anthony Di Paola, and Ben Bartenstein

August 25, 2023 at 7:20 AM UTC

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While Iran and the US make wary diplomatic overtures, a return to their lapsed nuclear agreement remains a distant prospect. But for world oil markets, a pact is already taking effect.