FOX LIVE NEWS UPDATE

Asia’s May Iran oil imports hit eight-month high

June 29 (Reuters) – Imports of Iranian crude oil by major buyers in Asia rose to the highest in eight months in May as purchases increased ahead of possible new sanctions on the Middle Eastern nation, government and ship-tracking data showed.

China, India, Japan and South Korea last month imported 1.8 million barrels per day (bpd) from Iran, the data showed. That was nearly 15 percent higher than a year earlier and the most since September.

Purchases of crude from Iran by the four countries may fall by the end of the year after President Donald Trump last month pulled the U.S. out of a landmark agreement on curbing Tehran’s disputed nuclear programme.

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