Iran stores more oil on tankers as it counts days to enter markets – Reuters

Iran stores more oil on tankers as it counts days to enter markets – Reuters

LONDON/SINGAPORE, June 21 (Reuters) - Iran could quickly export millions of barrels of oil it is holding in storage if it reaches a deal with the United States on its nuclear programme and has been moving oil into place to prepare for an eventual restart, four traders and industrial sources said.

The U.S. and Iran began in mid-June their sixth round of indirect talks on reviving a 2015 nuclear deal that former U.S. President Donald Trump pulled out of in 2018. Trump reimposed sanctions on Iran's energy sector, leading refiners in many countries to shun Iranian crude and forcing Tehran to pump well below capacity.

Negotiations for the nuclear deal took a pause on Sunday after hardline judge Ebrahim Raisi won Iran's presidential election. Two diplomats said they expected a break of around 10 days. read more