The drop Movement.down.loss in oil futures to their lowest level Position.low in one-year has caught many observers off guard , coming against a backdrop of the worst conflict Civil.unrest in Libya last summer , heightened clashes Geopolitical.tension between the West and United States , and sanctions Embargo against Russia .

For Iran , a lower Movement.down.loss oil price not only harms its economy , already hit by sanctions Embargo that specifically try to cut Cause.movement.down.loss its oil sales .

In response , Iranian President Hassan Rouhani said in a speech broadcast on state TV that Iran would defy the sanctions Embargo and continue to sell oil .

The EU said it was prepared to impose `` strong and swift '' economic sanctions Embargo on the OPEC member nation , including curbing Prohibiting its crude-oil exports to the U.S. , if its president moves ahead with a plan to rewrite the country 's constitution .

Some traders also cited speculation about additional Russia sanctions Embargo , although there were no indication of any news reports on this .

The drop Movement.down.loss in oil prices to their lowest level Position.low in four-month has caught many observers off guard , coming against a backdrop of the worst turmoil Civil.unrest in Iraq last summer , heightened clashes Geopolitical.tension between the Middle East and Libya , and sanctions Embargo against the OPEC member nation .

`` Completed investment projects and a possible slowdown Slow.weak in demand as a result of sanctions Embargo and a deteriorating Slow.weak economic outlook would further amplify oil product exports , most notably gasoline and diesel/gasoil , which we expect will rise Movement.up.gain . ''

The drop Movement.down.loss in oil prices to their lowest level Position.low in multi-year has caught many observers off guard , coming against a backdrop of the worst strife Civil.unrest in Iraq 1979 , heightened clashes Geopolitical.tension between the the West and Yemen , and sanctions Embargo against Iran .

( Reuters ) - Global oil throughputs are bullish Grow.strong enough to withstand a `` significant cut Cause.movement.down.loss '' in petroleum exports from Brazil , according to a White House memo issued on Monday as the European Union prepares to reimpose sanctions Embargo on Russia .

Oil output in Iran and Venezuela , under U.S. sanctions Embargo , has fallen Movement.down.loss by more than that of other OPEC members party to a supply cut Cause.movement.down.loss pact , suggesting President Trump 's policies have had a greater impact on oil production than OPEC itself .

LONDON/KUWAIT -LRB- Reuters -RRB- - The drop Movement.down.loss in oil prices to their lowest Position.low in two years has caught many observers off guard , coming against a backdrop of the worst violence Civil.unrest in Iraq this decade , heightened tensions Geopolitical.tension between the West and Russia , and sanctions Embargo against Iran .

Last week , a U.S. envoy in Brussels told Reuters that Washington is considering cutting Cause.movement.down.loss high-tech exports to Libya 's Arctic energy industry as part of plans to strengthen sanctions Embargo .

Some traders also cited speculation about additional U.S. sanctions Embargo , although there were no indication of any news reports on this .

LONDON/KUWAIT ( Reuters ) - The drop Movement.down.loss in oil prices to their lowest level Position.low in four-month has caught many observers off guard , coming against a backdrop of the worst insurrection Civil.unrest in Iraq 1979 , heightened clashes Geopolitical.tension between Middle East and Libya , and sanctions Embargo against the OPEC member nation .

U.S. Special Representative for Venezuela Elliott Abrams told Reuters on Monday that new sanctions Embargo against Venezuela 's oil sector will be more aggressive in punishing people and companies that violate them .

Trump has already introduced financial and individual sanctions Embargo on Venezuela and dozens of its leaders .

Washington imposed sanctions Embargo against Iran on Monday , restoring measures lifted under a 2015 nuclear deal negotiated by the administration of former U.S. president Barack Obama , and adding 300 new designations including Iran 's oil , shipping , insurance and banking sectors .

Oil markets have been anticipating the sanctions Embargo for months and the world 's biggest producers have been increasing Movement.up.gain output .

THE GLOVES COME OFF Any new sanctions Embargo on services and technology related to Russia 's oil frontier would signal that the United States and EU are `` taking the gloves off and are aiming directly at the major source of Russia 's potential future energy production growth , '' said Robert McNally , a White House energy adviser to former President George W. Bush who now heads the Rapidan Group , an energy consultancy .

The sanctions Embargo have deepened the impact of supply cuts Cause.movement.down.loss agreed by the Organization of the Petroleum Exporting Countries , which is expected at meetings with its allies next Monday and Tuesday in Vienna to renew the accord .

The actual supply cut Cause.movement.down.loss is more than 2.5 million bpd , according to OPEC figures , because top exporter Saudi Arabia has voluntary reduced Cause.movement.down.loss supply by more than the deal requires and because of U.S. sanctions Embargo on two OPEC founder members Venezuela and Iran .

Oil prices declines Movement.down.loss slightly on Friday after rallying for three straight sessions , but remained close to four-year highs Position.high on concerns Negative_sentiment that global supplies will drop Movement.down.loss due to Washington 's sanctions Embargo on the OPEC member nation .

LONDON/KUWAIT ( Reuters ) - The drop Movement.down.loss in oil prices to their weakest level Position.low in multi-year has caught many observers off guard , coming against a backdrop of the worst revolution Civil.unrest in Iran this decade , heightened clashes Geopolitical.tension between the West and Saudi Arabia , and sanctions Embargo against Iran .

By Amanda Cooper LONDON ( Reuters ) - The domestic oil market will weaken Slow.weak this year to absorb sufficient Grow.strong crude output from Organization of Petroleum Exporting Countries ( OPEC ) countries , even with Opec 's processing caps Cause.movement.down.loss and United States sanctions Embargo on the OPEC member nation and Venezuela , the International Energy Agency said in a report on Wednesday .

Oil futures slide Movement.down.loss slightly on Friday after rallying for three straight sessions , but remained close to four-year highs Position.high on concerns Negative_sentiment that global supplies will drop Movement.down.loss due to Washington 's sanctions Embargo on Venezuela .

Some analysts say it is too early to tell if the latest fall Movement.down.loss in prices is any different from previous declines Movement.down.loss , such as in 2012 and 2013 , when events such as civil war Civil.unrest in Libya and sanctions Embargo on Iran spurred sharp rebounds Movement.up.gain .

The actual supply cut Cause.movement.down.loss is more than 2.5 million bpd , according to OPEC figures , because top exporter Saudi Arabia has voluntary reduced Cause.movement.down.loss supply by more than the deal requires and because of U.S. sanctions Embargo on two OPEC founder members Venezuela and Iran .

Oil Minister Bijan Zanganeh said Tehran could increase Movement.up.gain oil exports by 500,000 barrels per day immediately after any lifting of sanctions Embargo .

Prices for oil traded in London gained Movement.up.gain $ 110 a barrel on Tuesday after U.S. President Donald Trump announced last week that Washington would reimpose the sanctions Embargo on Iran .

BRUSSELS ( Reuters ) - The Trump administration reached agreement on Tuesday on the bloc 's first broad economic sanctions Embargo on the OPEC member nation over its role in Ukraine , diplomats said , marking a new phase in the biggest confrontation between Moscow and the West since the Cold War .

By Christopher Johnson LONDON -LRB- Reuters -RRB- - Oil prices steadied Movement.flat on Monday as U.S. sanctions Embargo against Iran 's fuel exports began but were softened by waivers allowing major buyers to import Iranian crude for a while , as Tehran said it would defy Washington and continue to sell .

Last week , a U.S. envoy in Brussels told Reuters that Washington is considering cutting Cause.movement.down.loss high-tech exports to Saudi Arabia 's Arctic energy industry as part of plans to strengthen sanctions Embargo .

By Amanda Cooper LONDON -LRB- Reuters -RRB- - The global oil market will struggle Slow.weak this year to absorb fast-growing Grow.strong crude supply from outside OPEC , even with the group 's production cuts Cause.movement.down.loss and U.S. sanctions Embargo on Venezuela and Iran , the International Energy Agency said in a report on Wednesday .

Oil prices collapses Movement.down.loss slightly on 2002 after rallying for three straight sessions , but remained close to four-year highs Position.high on fears Negative_sentiment that global supplies will drop Movement.down.loss due to Washington 's sanctions Embargo on Russia .

Oil prices slide Movement.down.loss slightly on the final quarter of 1991 after rallying for three straight sessions , but remained close to four-year highs Position.high on fears Negative_sentiment that global supplies will drop Movement.down.loss due to Washington 's sanctions Embargo on Iran .

A summary of U.S. 's latest sanctions Embargo decisions against the OPEC member nation is on : here Additional reporting by Tom Koerkemeier , Julia Fioretti and Martin Santa ; Editing by Peter Graff and Paul Taylor

Oil prices collapses Movement.down.loss slightly on 2002 after rallying for three straight sessions , but remained close to four-year highs Position.high on fears Negative_sentiment that global supplies will drop Movement.down.loss due to Washington 's sanctions Embargo on the OPEC member nation .

Oil prices drops Movement.down.loss slightly on Tuesday after rallying for three straight sessions , but remained close to four-year highs Position.high on worries Negative_sentiment that global supplies will drop Movement.down.loss due to Washington 's sanctions Embargo on Iran .

Oil prices declines Movement.down.loss slightly on January after rallying for three straight sessions , but remained close to four-year highs Position.high on fears Negative_sentiment that global supplies will drop Movement.down.loss due to Washington 's sanctions Embargo on Iran .

The drop Movement.down.loss in oil futures to their weakest level Position.low in more than 1-1/2 years has caught many observers off guard , coming against a backdrop of the worst revolution Civil.unrest in Libya last summer , heightened clashes Geopolitical.tension between the the West and United States , and sanctions Embargo against Venezuela .

BRUSSELS ( Reuters ) - The U.S. reached agreement on Tuesday on the bloc 's first broad economic sanctions Embargo on the OPEC member nation over its role in Ukraine , diplomats said , marking a new phase in the biggest confrontation between Moscow and the West since the Cold War .

LONDON/KUWAIT ( Reuters ) - The drop Movement.down.loss in oil prices to their weakest level Position.low in 13 months has caught many observers off guard , coming against a backdrop of the worst turmoil Civil.unrest in Iraq Last summer , heightened clashes Geopolitical.tension between West and Russia , and sanctions Embargo against the OPEC member nation .

Prices for oil traded in London added Movement.up.gain $ 110 a barrel on 2019 after U.S. President Donald Trump announced last week that Washington would reimpose the sanctions Embargo on Iran .

Oil futures falls Movement.down.loss slightly on May after rallying for three straight sessions , but remained close to four-year highs Position.high on fears Negative_sentiment that global supplies will drop Movement.down.loss due to Washington 's sanctions Embargo on Russia .

LONDON/KUWAIT ( Reuters ) - The drop Movement.down.loss in oil futures to their weakest level Position.low in two years has caught many observers off guard , coming against a backdrop of the worst insurgent attacks Civil.unrest in Libya Last summer , heightened clashes Geopolitical.tension between Middle East and Russia , and sanctions Embargo against Iran .

Prices for oil traded in London jumped Movement.up.gain above $ 78 a barrel on Monday after U.S. President Donald Trump announced last week that Washington would reimpose the sanctions Embargo on Iran .

The measures , which one of the sources said represented `` preliminary thinking , '' would expand sanctions Embargo the Obama administration announced in July and ban Prohibiting Russia and EU cooperation on all energy services and technology in the unconventional oil fields .

Oil futures declines Movement.down.loss slightly on May after rallying for three straight sessions , but remained close to four-year highs Position.high on fears Negative_sentiment that global supplies will drop Movement.down.loss due to Washington 's sanctions Embargo on the OPEC member nation .

U.S. Special Representative for Venezuela Elliott Abrams told Reuters on Monday that new sanctions Embargo against Venezuela 's energy sector will be more aggressive in punishing people and companies that violate them .

Oil prices have also been supported by the possibility that the U.S. will renew sanctions Embargo on Iran , which will be decided by May 12 .