It doesn’t matter that European governments oppose Trump’s withdrawal from the Iran nuclear deal. Politicians and bureaucrats may work on “the continuation of Iran’s exports of oil and gas,” but it’s companies, not governments, that buy Iran’s oil.
While there has been no indication that Iran was prepared to go through with the warning, such a move would likely be catastrophic for the region and global energy prices.
Former Shell Oil President John Hofmeister said on “Cavuto Coast to Coast” that “the volatility overall is going to be worrisome, particularly as global demand continues to grow.”
Iran’s foreign minister has said the United States will not be able to prevent the country from exporting oil.
Saudi Arabia’s purchase of a stake of about $2 billion in Tesla Inc. is only the latest high-profile investment by its sovereign wealth fund since 2016.
U.S. sanctions on Iranian crude could soon push oil prices above $90 a barrel, one oil analyst told CNBC Monday, amid heightened energy market fears of a looming supply shock.
Israel would deploy its military if Iran were to try to block the Bab al-Mandeb strait that links the Red Sea to the Gulf of Aden, Prime Minister Benjamin Netanyahu said on Wednesday.
A draft proposal by federal regulators to roll back U.S. automobile efficiency requirements contends that their preferred plan would reduce “societal costs” by roughly half a trillion dollars through 2029, while increasing U.S. fuel consumption by 500,000 barrels per day.
Iran will react with equal countermeasures if Washington tries to block its oil exports, the foreign ministry said on Tuesday, while the Islamic Republic’s armed forces chief said U.S. threats would draw an “unimaginable and regrettable” reaction.
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