Trump signed an order in February that could tighten sanctions on Iran but so far there hasn’t been any effect. Iran was able to raise output by 80k bpd in the month, according to Reuters’ survey. That was the biggest increase in a 170k bpd rise in the month, that also featured a 50k bpd rise from Nigeria, which is producing above the OPEC target.

WTI crude is having another rough one today, down $1.48 to $66.78 with brent trading just below $70.

This article was written by Adam Button at www.forexlive.com.