Oil Prices See Limited Reaction to New Iran Sanctions

Goldman Sachs commodities analyst Daan Struyven says oil prices rose only modestly after the US announced additional sanctions on Iran because an existing blockade is already restricting Iranian oil exports.

The existing blockade has reduced the amount of crude reaching global markets, limiting the immediate supply impact of further sanctions, according to Struyven.

Struyven noted that investors could still face volatility in crude prices and may need to hedge exposure to swings in the oil market.