FIRST TAKE: Trump’s 'maximum pressure' campaign on Iran BULLISH for Dubai, global heavy sour crudes   * Trump Feb. 4 signed a presidential memorandum, according to news reports, with goal of driving Iranian crude exports to zero. * ICE Brent rallies more than $2/b in the wake of the reports. * Iran exported 1.6 million b/d of crude in 2024; around 55 unsanctioned VLCCs willing to move Iranian barrels.   Reports suggest US President Donald Trump signed a presidential memorandum Feb. 4 restoring his so-called maximum pressure campaign against Iran. The goal appears to be to drive Iranian crude exports to zero. We see this as BULLISH for Dubai and other global heavy sours. China, the primary buyer of Iranian crude, is likely to turn to increased imports from Canada and perhaps Mexico, in particular if the US moves forward with tariffs on Canada and Mexico.   Read more on Platts Connect: https://tinyurl.com/4u8cx9ar