Wednesday, May 9, 2018

Riyadh offers oil assurances after U.S. walkout on JCPOA

Riyadh offers oil assurances after U.S. walkout on JCPOA
With the United States reneging on the Iranian nuclear deal, Saudi Arabia is committed to ensuring oil market stability, its energy ministry said.

"I do not believe that continuing to provide JCPOA-related sanctions relief to Iran is in the national interest of the United States," President Donald Trump declared Tuesday afternoon.

1 comment:

  1. The price of crude oil has risen to an almost three-year high, following US President Donald Trump's unilateral decision to withdraw from the Iran nuclear deal, as well as bullish US crude inventory numbers.

    Brent futures rose 2.7 percent on the geopolitical news, to $76.87 per barrel, but topped out at $77.43 earlier in the day before meeting resistance. Meanwhile West Texas Intermediate (WTI) futures rose 2.6 percent to $70.85 per barrel.


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