Oil prices have fallen back from their immediate highs following the attacks on Saudi Arabian oil processing and production facilities earlier in September. Nerves have been calmed by the promise of the release of strategic stocks, if required, and by Saudi statements that production levels are returning to normal levels relatively quickly. Washington appears to have stepped back from direct retaliation and has chosen to tighten sanctions instead. Iran’s announcement September 23 that the British-flagged oil tanker Stena Impero was free to…
