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hemanthaa@mail.com

Will the sanction-busting oil shipment from Iran to Lebanon create another crisis in the markets?

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Crude oil August 2021

Crude oil markets are not short of anxieties at present and what the former desperately need is the stability in the market conditions. Unfortunately, a shipment of oil from Iran, defying the US-led sanctions, to Lebanon, if not handled sensitively, is going create the polor opposite. Lebanon is collapsing from within and its people desperately need fuel. It looks like the Iranian-backed Hezbollah has come forward to fill the vacuum, much to the dismay of the Sunni politicians from Lebanon - and beyound. 

In light of the debacle in Afghanistan, we do not know whether the militant group flexes its muscles or tries to address an acute need.

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What?  An OIL topic in Oil General, get out of here <<Gasp!>>

Uh, what exactly will Lebanon pay Iran with?  They grow some nuts and fruits.  Mining--???  I uh, had to look this up... its leading mining is limestone..... Not exactly a $$$ producing venture.   So we can call all mining in Lebanon ~Zero.  Manufacturing?  --> zero.  Tourism... quite a bit until the current fiasco...

You can't stop gifts.  Venezuela was gifting Cuba with oil for decades.  Did not bring the sanctions down or disrupt the market. 

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