The US will no longer be giving any waivers to current Iranian oil buyers who were allowed in 2018 to purchase oil from Iran without sanctions.

Oil prices could reach $90 a barrel by Christmas and rise further to $100 a barrel before the new year, Trafigura’s Co-Head of Oil Trading Ben Luckock told a conference on September 24.

The price of Omani crude oil crossed the $88 mark on September 26 for the first time in four years, a $6 jump from the day before.

Algeria’s oil and gas exports fell 2.8% year-on-year (YOY) in Q1 2018 due to higher domestic consumption and lowered production.

Oman produced 30.21 million barrels of crude oil and condensate in August, averaging 974,500 barrels per day (b/d).

Egypt has signed hedging contracts with American banks J.P. Morgan and Citibank to secure against fluctuating oil prices, according to a government official.

The Egyptian government announced in an official document that fuel imports cost $75 per barrel.

Oil prices reached $80 a barrel on May 17, driven by concerns over falling supplies due to renewed US sanctions on Iran.

Kuwait’s oil price has increased by 0.525% in the past few days.

Iraq is reconsidering its previously announced plan to switch its price benchmark for Asian-bound crude from the Platts’ Oman-Dubai average to DME Oman futures.