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Iran sanction waivers may strengthen tanker market

The fact that eight countries have been granted a six-month exemption from the US' sanctions against Iran may strengthen the tanker market, estimates shipbroker Simpson Spence Young.

US sanctions against Iran have strained the oil market and thereby also the tanker market.

But the recent announcement to grant waivers to eight countries that may now continue to buy oil from Iran has reduced some of the pressure, estimates shipbroker Simpson Spence Young in a comment regarding the tanker market and the exemption of the eight countries China, India, South Korea, Japan, Taiwan, Turkey, Italy and Greece.

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