Trump’s Iran Sanctions Fail To Diminish Oil Supply Fears

According to Business Insider, Trump’s Iran sanctions fail to diminish oil supply fears.
Oil prices dropped below $70 a barrel for the first time since April, having reached as high as $86 last month, on the back of trade fears and waning growth. Brent now sits at $69.68, down 1.8%.
Expectations that US sanctions on Iran could take substantial crude volumes out of the market have been mitigated by steadily increasing production out of Saudi Arabia, Russia, and the US shale industry.