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Energy prices up to the reported end of sanctions abstain from Iranian oil

The eight buyers are China and India – Iran's largest customers – as well as Japan, South Korea, Italy, Greece, Turkey and Taiwan. "The sanctions are apparently one of the big moves, I think, which affects prices," said Daryl Liew, director of portfolio management at Financial Services Company Reyl Singapore. He also pointed out stronger than expected economic growth data from China last week, which could lead to the demand for expectations. Of the buyers of Iranian oil, he said that India could be most affected by Washington's movement. "I think India is probably one of the most important potential countries to suffer a higher oil price in form of their current account deficit, for example. It will also basically put pressure on inflationary pressures as well, says Liew, who spoke about CNBC's "Street Signs" on Monday. "The Indian Central Bank has no doubt about making a more deceptive attitude in recent meetings. But if oil prices continue to hit higher and inflationary pressures return to the picture again for India in particular, then the central bank will probably have to reverse the deep movements," concluded he.

The eight buyers are China and India – Iran’s largest customers – as well as Japan, South Korea, Italy, Greece, Turkey and Taiwan.

“The sanctions are apparently one of the big moves, I think, which affects prices,” said Daryl Liew, director of portfolio management at Financial Services Company Reyl Singapore. He also pointed out stronger than expected economic growth data from China last week, which could lead to the demand for expectations.

Of the buyers of Iranian oil, he said that India could be most affected by Washington’s movement.

“I think India is probably one of the most important potential countries to suffer a higher oil price in form of their current account deficit, for example. It will also basically put pressure on inflationary pressures as well, says Liew, who spoke about CNBC’s “Street Signs” on Monday.

“The Indian Central Bank has no doubt about making a more deceptive attitude in recent meetings. But if oil prices continue to hit higher and inflationary pressures return to the picture again for India in particular, then the central bank will probably have to reverse the deep movements,” concluded he.

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