Crude oil futures were up over 2% for both ICE Brent and NYMEX WTI during mid-afternoon trade Monday as market sources speculated that the US may cease extension for Iranian sanctions’ waivers. At 2:48 pm Singapore time (0648 GMT), the June ICE Brent crude futures were up $1.62 cents/b (2.29%) from Thursday’s settle at $73.62/b, while the NYMEX May light sweet crude contract gained $1.41 cents/b (2.20%) at $65.41/b. As of 0648 GMT, a daily candlestick chart seen by S&P Global Platts showed the ICE June Brent futures contract touching an intraday high of $74.31/b and similarly, the NYMEX March light sweet contract touched an intraday high of $65.87/b. According to Josh Rogin, columnist at The Washington Post, the State Department is set to announce that all countries will have to completely end their imports of Iranian […]