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Oil Traders Who Expect Iran Waivers Are in for a Shock: Hedgeye

  • Hedgeye sees Brent potentially spiking to $90 a barrel
  • Early enforcement of sanctions may send message to market
Crude Oil Shipments In The Persian Gulf
Photographer: Ali Mohammadi/Bloomberg
Updated on

The oil market could be in for a surprise when U.S. sanctions on Iranian crude exports are implemented in 10 days, according to Hedgeye Risk Management LLC.

Traders who expect the U.S. to hand out waivers allowing certain nations to continue buying oil from the Islamic Republic, "are making a huge miscalculation," Joe McMonigle, head of energy policy at Hedgeye, said in a note.