Medium sour crude values have found fresh support, following an announcement on April 22 that the US will end all waivers from Iran sanctions when they expire on May 2.
May barrels of USGC sour crude benchmark Mars were heard talked between $4.80/b and $5.05/b above WTI cash in the morning of April 22 and then later heard traded at WTI plus $5/b, up from the previous assessment of WTI plus $4.55/b on April 18. Also on the day of the announcement, June barrels of Mars were heard trading at WTI plus $5.10/b on, up from over $4.70/b.
