Iran's Oil Exports Fall in April
Iran's oil exports fell in April for a second month, according to sources who track tanker movements, moving closer to levels allowed by November's interim deal on curbing Tehran's nuclear program. The decline may reflect seasonally lower crude oil demand and U.S. pressure on some customers take less. Signs of higher Iranian sales since late 2013 have led to concern in Washington that a softening of sanctions has given Tehran's economy a boost. "It looks like India has imported less in April - that could be due to a combination of more pressure from the United States and also lower crude demand at this time of year by Indian buyers," a tanker-tracking source said.
Iran's Oil Exports Pick Up
Iran's oil tanker fleet is gearing up for more business, with some vessels taking to the high seas after over more than a year at home ports, another sign that an easing in Western sanctions is enabling exports to begin to pick up. Iran and Western governments reached an interim agreement in November to restrict Tehran's disputed atomic work in exchange for limited sanctions relief for six months, which came into effect in January. U.S. and European sanctions imposed in the previous two years had sharply hit Iran's oil exports, mainly by making it difficult for buyers to arrange financing for transactions and insurance and documentation for shipments.
