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The evolution (or not) of Iran sanctions

Iranian oil facility
Kharg Island Oil Terminal, home to 95% of Iran's crude oil exports. Photo: Fatemeh Bahrami/Anadolu Agency via Getty Images

Oil prices are heading downward this morning, as traders respond to the escalating trade war with China, reopened Libyan exports terminals, and fresh signs that the U.S. could provide buyers of Iran crude oil some wiggle room on sanctions, per Reuters.

The intrigue: U.S. Secretary of State Mike Pompeo seemed to make news yesterday when he said in Abu Dhabi that the U.S. would "consider" waiver requests from a "handful" of countries. But that was in the context of generally tough remarks.