Oil spikes to 6-month high after Trump crackdown on Iran

[riversedge]

Oil spikes to 6-month high after Trump crackdown on Iran

https://thehill.com/policy/energy-environment/440065-oil-spikes-to-6-month-high-after-trump-crackdown-on-iran

By Niv Elis - 04/22/19 04:04 PM EDT


Oil prices on Monday spiked to their highest levels since October after President Trump announced the U.S. would not renew sanction waivers that had allowed eight countries to buy Iranian oil.

Brent crude rocketed past $74 a barrel, its highest point this year, and American consumers may soon see the price increase at gas stations nationwide.

The administration's move was designed to ratchet up pressure on Iran almost a year after Trump withdrew from the 2015 nuclear deal negotiated by former President Obama.

After reimposing oil sanctions in November, the U.S. agreed to grant waivers allowing eight countries to continue buying Iranian oil: China, India, Japan, Turkey, Italy, Greece, South Korea and Taiwan.

The White House said Monday it had struck agreements with oil-producing allies like Saudi Arabia and the United Arab Emirates "to take timely action to assure that global demand is met as all Iranian oil is removed from the market.”

Iran responded by threatening to close the Strait of Hormuz, which would affect the transport of oil, according to the semi-official Tasnim news agency..............................

[jpak]

1. K&R

And Putin smiles

Yup

[uponit7771]

2. Great for Russia's economy horrible for America's

[SWBTATTReg]

3. So our farmers can't sell their produce (per rump's bans/tariffs/etc.), and it is rotting in the ...

fields because of all of the flooding going on (the fields themselves, and the stored produce from last year), we can't make our cars or anything else because of too high steel prices etc., we can't buy oil unless we pay a premium price for it now, etc. What else is rump going to screw up? Guess who paying the price? We all are.

Thanks rump!

[MyOwnPeace]

4. Thanks, Obama!!!!!

(Oh, wait, that can't be right, can it?)

Somehow Faux Spews will make it so...................