SYDNEY - Oil prices rose more than 1% on Wednesday to their highest in nearly a month as industry data showed U.S. crude stockpiles fell more than expected, underpinning a market already buoyed by worries over a potential U.S.-Iran conflict.
U.S. West Texas Intermediate crude futures were at $58.98 per barrel, up 1.8% from their last settlement. WTI earlier hit its strongest level since May 30 at $59.03 a barrel. “Oil prices went ballistic after the API report,” said Stephen Innes, a managing partner at Vanguard Markets. U.S. President Donald Trump threatened on Tuesday to obliterate parts of Iran if it attacked “anything American”, in a new war of words with Iran. Tehran has condemned a fresh round of U.S. sanctions as “mentally retarded”.
The negative implications of the imposing sanctions on Iran. Not only that USA imposed unjustified sanctions on Iran that are not effective, it also damages the global economic prosperity, especially the stability of the global oil market.
Higher price is good for Middle East right they get more money
Thanks to inexperienced and all talk realDonaldTrump - WHAT A HUGE MISTAKE VOTING FOR THIS DRAMA QUEEN!!!!
When you're filling up your car, and it costs $8 more than it did last month, stop and thank Donald Trump for that. If he had stayed in the effective JCPOA like a big boy, we wouldn't be considering war. But him not smart. Him dumb. ThanksTrump
Keeping a close eye on d next OPEC meetings. However, I think d ‘real’ OPEC meeting will be d G20 meetings b4 it.
When you're filling up your car, and it costs $8 more than it did last month, stop and thank Donald Trump for that. If he had stayed in the effective JCPOA like a big boy, we wouldn't be considering war. But him not start. Him dumb. ThanksTrump