Crude Jump

• Oil is adding to yesterday’s gains, with a barrel of West Texas Intermediate for June delivery trading above $66 this morning while Brent crude was also higher.
• The move comes in the wake of the Trump administration’s decision to end waivers on the ban of Iranian oil exports in an attempt to increase pressure on the Tehran regime.
• For oil traders, it’s a cue to reprise levels hit when Iranian sanctions were first introduced.

(Source: Bloomberg)