Russian Energy Minister Alexander Novak said Friday the market has probably taken into account the potential loss of Iranian oil by November already. The U.S. departure from the Joint Comprehensive Plan of Action in May means some sanctions are reintroduced on Iran next month. By November, sanctions on the Iranian energy sector snap back into place and U.S. officials have said they’d like to sideline Iran from the market as much as feasible. The loss of Iran could pull millions of barrels off the market at a time when spare capacity, the amount of oil a producer could put on the market in short order, is at a premium. That concern has at times lent support to […]