Tag: crude_oil
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US Treasury Amends Iran Sanctions License for Oil and Petrochemical Wind-Down
OFAC has revoked Iran-related General License X, replacing it with General License X1. This new license, effective July 7, 2026, mandates the wind-down of authorization for the production, delivery, and sale of Iranian crude oil and petrochemical products.
Politics and GovernmentBusinessWorldFederal GovernmentEconomyTradeMiddle East OFACIranSanctionsGeneral LicenseCrude OilPetrochemical ProductsPetroleum ProductsUS Treasury
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CFTC Seeks Public Input on 24/7 Futures Trading and Perpetual Energy Contracts
The CFTC is seeking public comment on extending standard futures contracts to 24/7 trading and introducing perpetual contracts for physically delivered energy commodities like crude oil, aiming to gather input on evolving market structures.
Politics and GovernmentBusinessFederal GovernmentFinancial MarketsEnergyGeneral Politics CFTCPublic CommentEnergy DerivativesFutures Contracts24/7 TradingPerpetual ContractsCrude Oil
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US Treasury Issues General License for Iranian Oil and Petrochemical Products
The US Treasury's OFAC has issued Iran General License X, permitting the production, delivery, and sale of Iranian-origin crude oil, petrochemical, and petroleum products. This authorization is valid until August 21, 2026, impacting Iran's energy sector.
Politics and GovernmentBusinessWorldFederal GovernmentTradeEconomyMiddle East US TreasuryOFACIranGeneral License XCrude OilPetrochemical ProductsPetroleum Products