JERUSALEM - The rise in new suppliers of oil and gas has reduced the ability of Iran to influence global oil markets, U.S. Energy Secretary Rick Perry said on Monday.
The price of crude LCOc1 jumped on Monday following Iran’s seizure on Friday of a British-flagged oil tanker in the Strait of Hormuz, but had pared initial, steep gains by 1507 GMT. “New suppliers should help keep a steady supply of fuel - whether it’s crude, natural gas or other secondary products. I think you will see less displacement of the market when there is an event like we see happening,” he said.
Perry was in Israel to meet his Israeli counterpart, Yuval Steinitz, and Prime Minister Benjamin Netanyahu on a variety of issues and will head to Egypt later this week for a natural gas forum to discuss international energy cooperation.
You can't help but feel that there's some sort of rush to do something stupid before better sense prevails around the globe
Ahhh... not if the keep seizing or sinking every western-bound tanker passing by their coast!!!
Yes and we all know secretary Perry knows what he's talking about
It's all falling into place...Trump is getting ready to nuke Iran.
This guys degree is in animal science and he is in charge of the energy dept.? So much for the ' I'll get the best and brightest to fill my cabinet!'
Limited. Much like his and Trump's knowledge about the oil market. Or like most things in general.
Erudition from “Dancing with the Stars”.....
Oooops! “D” in meats.
U.S. is threatened over Iran's normal business dealings? Well that explains why they act violently because you're trying to starve them to death.
Well trying to influence a war totally says 'bullshit'...sure geopolitical premiums are in full swing though.
Which way to the dept , I am supposed to run, just a hint of its name