making the crude waivers tougher to obtain may only be a matter of time.
The comfort expressed by officials in Asia's top crude importers may well be short-lived.
Asian importers probably now have two reasons to hope for lower oil prices, firstly to help their own import bills and secondly, lower prices will probably be more effective than sanctions at cutting Iran's revenues, thereby putting further pressure on an already struggling economy.
(Clyde Russell is a Reuters market analyst. The views
expressed are his own)