Oil prices fall after Trump says China can continue buying oil from Iran
After saying that President Donald Trump could continue to buy oil from Iran, he fell sharply on Tuesday, showing that the US alleviated the maximum pressure campaign over the Islamic Republic after the ceasefire.
Global benchmark Brent Falling to $ 3.33 or 4.66%, falling to $ 68.15 per barrel, 10:18 am. US Crude Oil The latest fell to $ 3.18 or 4.64%and the barrel to $ 65.33. While the oil market bets on the crash in the Middle East, prices are 7% lower on Monday.
“China can continue to buy oil from Iran now,” Trump said Social Media Platform Real Social. “I hope they will buy abundant from the USA. It was a great honor for me to do this!”
Trump threatened to block any country that bought Iranian oil for doing business with the US in May.
Oil prices fell to the levels seen before Israel began to bomb Iran on June 13, because investors now believe that a major supply deduction will take place in the Middle East.
The decision of the US to participate in Israel’s campaign and the bombing of three important nuclear fields in Iran at the weekend triggered the fear that Tehran could try to drown oil exports from the Gulf of Iran as retaliation.
Instead, Tehran launched a missile attack that did not harm a US air base in Qatar and provided a further climb. Trump soon announced a cease -fire agreement between Israel and Iran.
The ceasefire wandered on the brink of collapse early on Tuesday, as Trump accused Iran and Israel of violating the agreement shortly after entering into force. The president asked Jerusalem and Tehran to be attached to the ceasefire and allocated unusual harsh words for Israel.
Im I am not satisfied with Israel, Tr Trump said to journalists to a NATO summit in the Netherlands. “I am not satisfied with Iran, but Israel is really unhappy” Tuesday continues the bombing campaign.
During the conflict, merchants were afraid that Israel could target Iran’s 3.3 million BPD crude oil produced by Iran, or that the Islamic Republic could pollute the energy infrastructure in the Gulf nations, including Iraq.
Investors also watched if Iran would try to close the Hormuz Strait, which connects the Gulf of Iran and the Gulf of Oman. The Bosphorus, which is used to carry 20% of the world’s raw, is an important way for Iran and other Middle East shipments, including the world’s largest oil exporter, United Arab Emirates, Iraq, Kuwait and Bahrain.
