Iran’s Adviser: US sanctions cannot cut Iran's oil sales to zero - Reuters

Dhwani Mehta FXStreet

Moayyed Hosseini Sadr, an adviser to the Iranian Oil Minister Bijan Zanganeh, said in an interview with the state TV, expected US sanctions on Iran’s energy sector cannot reduce the country’s oil sale to zero because of high demand levels in the market, Reuters reports.

Hosseini Sadr noted: “Considering the high demand and low supply in the market, America’s sanctions cannot drop Iran’s oil sale to zero ... Other oil producers cannot replace Iran’s oil.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

AUD/USD extends the range play above 0.7200 as traders await US inflation data

AUD/USD is seen extending its consolidative price move above 0.7200 during the Asian session on Thursday amid mixed cues. Rising RBA rate-hike bets keep the Aussie close to its highest level since May 14. However, hawkish Fed expectations and escalating US-Iran tensions offer some support to the US Dollar, capping the currency pair as traders await US inflation figures.

USD/JPY consolidates around 153.50 as bears turn cautious ahead of US inflation

USD/JPY stabilizes above 153.50 during the Asian session on Thursday, but remains near a seven-month low set earlier this week as hawkish BoJ repricing continues to underpin the Japanese Yen. Meanwhile, rising September Fed rate-hike bets and escalating US-Iran tensions help ease US Dollar selling pressure, offering some support to the currency pair ahead of US inflation figures.

Gold holds steady above $4,400 as traders seem hesitant ahead of US inflation data

Gold hovers around the $4,400 mark through the Asian session on Thursday as traders seem hesitant to place directional bets ahead of US inflation figures. The US Producer Price Index report will be published later this Thursday, while the US Consumer Price Index is due on Friday. The key data will provide more cues about the Federal Reserve's policy path, which should influence US Dollar price dynamics and provide a fresh impetus to the non-yielding bullion.

XRP rally cools, XLM heads toward a make-or-break support

Ripple (XRP) and Stellar (XLM) trade under pressure on Thursday after losing over 2% and 3% so far this week. XRP and XLM are both nearing their crucial support zones, which could determine the next directional move. Meanwhile, mixed derivatives and on-chain data suggest upside potential remains limited for both altcoins. CryptoQuant’s summary data shows cautious signs for both altcoins.

Jobs opened the door for the Fed — inflation decides whether it walks through

The latest US jobs report did not end the debate over the Federal Reserve’s (Fed) next move. It may have done something more subtle: it gave policymakers permission to keep their options open. After months of softer labour market signals, August delivered a stronger-than-expected rebound.

Venezuela’s 65-billion-barrel Oil deal could reshape America’s inflation fight

The United States (US) has secured unprecedented access to part of Venezuela’s vast Oil reserves. The timing is particularly significant as the war with Iran is disrupting Middle Eastern supplies, keeping energy prices elevated and reviving concerns about inflation.