Iran oil prices to China at multi-year high after exports fall, sources say
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Iranian crude oil prices to China have reached multi-year highs due to reduced exports and concerns over Middle East tensions potentially disrupting supply. Discounts on Iranian oil are at their tightest in five years.
November 05, 2024 | 12:30 pm
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The United States Brent Oil Fund (BNO) may see a short-term price increase due to rising Iranian oil prices to China, driven by reduced exports and Middle East tensions.
BNO, which tracks Brent oil prices, is likely to be impacted by the increase in Iranian oil prices to China. The reduced exports and geopolitical tensions in the Middle East could lead to higher global oil prices, benefiting BNO.
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IMPORTANCE 70
RELEVANCE 80