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1. Goodbye, Iran Oil Import Waivers. Hello, Higher Energy Prices?
Besides the Occidental Petroleum (OXY) bidding war with Chevron (CVX) for fellow producer Anadarko Petroleum (APC), the big energy news from last week is that President Donald Trump, as expected, moved to end all sanction waivers for nations that import Iranian oil. Starting in May, countries that still buy oil from Iran could face U.S. penalties. In response, Brent crude hit $75 per barrel for the first time in six months.