# Now you see it, now you don't: oil surplus vanishes ahead of Iran deadline - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com

> Unsold Atlantic Basin crude has halved in recent weeks as refiners seek replacement barrels before US sanctions on Iranian oil return in early November. Iran's exports are already falling, and an analyst expects Brent to move into the high $70s.

- Date: 2018-08-31 · published 2018-08-31T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/63709-now-you-see-it-now-you-don-t-oil-surplus-vanishes-ahead-of-iran-deadline-energy
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A tightening physical market from Iran sanctions points to firmer crude prices, which supports energy costs across feed supply chains. The effect depends on how much Iranian supply is actually lost.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-08-09 | [Oil Jumps Most in Month as Saudi Action Outweighs Demand Worries - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/57751-oil-jumps-most-in-month-as-saudi-action-outweighs-demand-worries-energy-news.md) | +3.6% | +7.1% |
| WTI | 2017-09-01 | [Oil hits highest since July 2015; producers say market rebalancing - Canadian Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow](https://feedsoft.ai/events/69126-oil-hits-highest-since-july-2015-producers-say-market-rebalancing-canadian.md) | +0.4% | +9.4% |
| WTI | 2018-09-14 | [Oil prices rise ahead of deadline for US sanctions on Iran \| The National](https://feedsoft.ai/events/63206-oil-prices-rise-ahead-of-deadline-for-us-sanctions-on-iran-the-national.md) | +3.2% | +3.5% |
| WTI | 2026-09-08 | [Crude oil futures rise after Iran threatens retaliatory strike on energy assets - The HinduBusinessLine](https://feedsoft.ai/events/17584-crude-oil-futures-rise-after-iran-threatens-retaliatory-strike-on-energy-assets.md) | +10.6% | +1.7% |
| WTI | 2018-06-26 | [Oil surges as U.S. pushes allies to halt imports of Iranian crude \| Reuters](https://feedsoft.ai/events/8778-oil-surges-as-u-s-pushes-allies-to-halt-imports-of-iranian-crude-reuters.md) | +6.7% | +1.0% |
| BRENT | 2019-08-09 | [Oil Jumps Most in Month as Saudi Action Outweighs Demand Worries - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/57751-oil-jumps-most-in-month-as-saudi-action-outweighs-demand-worries-energy-news.md) | +1.7% | +8.8% |
| BRENT | 2019-02-11 | [Sanctions, OPEC cuts push Asia's sour crude oil prices above Brent - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/60780-sanctions-opec-cuts-push-asia-s-sour-crude-oil-prices-above-brent-energy-news.md) | +6.8% | +6.4% |
| BRENT | 2017-09-01 | [Oil hits highest since July 2015; producers say market rebalancing - Canadian Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow](https://feedsoft.ai/events/69126-oil-hits-highest-since-july-2015-producers-say-market-rebalancing-canadian.md) | +3.4% | +10.6% |

## Sources

- energynow.com: https://energynow.com/2018/08/now-you-see-it-now-you-dont-oil-surplus-vanishes-ahead-of-iran-deadline/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.