US sanctions hit Iran’s oil sector as 140 million barrel waiver expires

The US Treasury has imposed new sanctions on Iran’s oil sector, affecting more than two dozen entities. This coincides with the expiration of a 30-day waiver for 140 million barrels of Iranian oil, which will not be renewed. WTI crude oil hit $160 in April and is now at ? YES.

Market reaction

The WTI crude oil market for April is seeing increased interest following the sanctions announcement. The refusal of oil revenues and the intensification of the blockade in the Strait of Hormuz are the main causes. With April 14 days to go, traders are watching for any escalation that could push prices towards $160.

Crude oil forecasts for June also reflect upward pressure towards $90 as Iranian exports decline. There are 75 days left in this market.

The market for Trump’s Iranian demands is at 36.5% YES, down 2 points in recent trading. The order book depth of $367 means it is sensitive to large trades.

Why it matters

These sanctions are part of a broader strategy of “economic fury” aimed at cutting off funds to the Iranian regime. For traders, this indicates continued tensions, creating opportunities in oil markets while reducing the likelihood of diplomatic easing. A YES to Trump’s Sanctions Relief 36.5¢ pays $1, but trade requires a sudden diplomatic change.

What to watch

The statements of Prince Abdulaziz and Alexander Novak, as well as any operational updates from the Pentagon on the blockade of Hormuz, will directly affect these markets.

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