The U.S. needs to clarify its position on Iranian sanctions if any progress is to be made in the Islamic Republic’s oil sector, according to the chief executives of several major oil-trading firms. Speaking at the Financial Times Commodities Summit the chief executives said their companies are continuing to look at Iran with a cautious eye while a lack of clarity over U.S. sanctions persists. Despite the lifting of some major sanctions against Iran, activity with the country has been limited because of a number of existing U.S. sanctions related to charges of terrorism. Oil production is growing , but more slowly than expected by Tehran. “The U.S. has made no effort to facilitate or clarify what’s going on so not seeing much movement on transactions,” said Torbjörn Törnqvist, chief executive of Gunvor Group. […]