How US ending Iran waivers could affect oil markets and beyond

An Iranian national flag flies near gas condensate processing facilities in the new Phase 3 facility at the Persian Gulf Star Co. (PGSPC) refinery in Bandar Abbas, Iran, on Wednesday, Jan. 9. 2019. The third phase of the refinery begins operations next week and will add 12-15 million liters a day of gasoline output capacity to the plant, Deputy Oil Minister Alireza Sadeghabadi told reporters. Photographer: Ali Mohammadi/Bloomberg
An Iranian national flag flies near gas condensate processing facilities in the new Phase 3 facility at the Persian Gulf Star Co. (PGSPC) refinery in Bandar Abbas, Iran, on Wednesday, Jan. 9. 2019. The third phase of the refinery begins operations next week and will add 12-15 million liters a day of gasoline output capacity to the plant, Deputy Oil Minister Alireza Sadeghabadi told reporters. Photographer: Ali Mohammadi/Bloomberg

Breaking