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Oil stability and Iran oil minister "optimistic" about future crude sales

2019-07-08 08:21 am | Resource: News | No Views : 33


 Oil stability and Iran oil minister  "optimistic" about future crude sales

Oil prices have stabilized despite continued tensions over Iran, as well as a reduced likelihood of a quick trade deal between Washington and Beijing.

Traders last week booked the United Kingdom on an Iranian ship, claiming it was on its way to transport oil to a Syrian refinery under EU sanctions. However, Tehran insisted that the ship was not destined for Syria, and indicated that the Syrian port, which the United Kingdom claims the ship was heading to, is not capable of absorbing such a large tanker.

 Iran's oil minister is "optimistic" about future crude sales

 Iran is optimistic about selling its oil despite international sanctions, Oil Minister Bijan Namdar Zanganeh said on Monday. "We are currently trying to do our best to defeat enemies and solve the problems of selling our oil.We hope for future crude oil sales," according to the official IRNA news agency.

Zanganeh's comments come in the wake of an incident earlier this month when the United Kingdom seized an Iranian oil tanker on suspicion of violating sanctions to carry oil to Syria. Iranian Deputy Foreign Minister Abbas Araghchi denied the allegation. In the meantime, Iran has announced that it will increase uranium enrichment in line with its decision to reduce its commitments made in the joint comprehensive action plan.

Iran accuses Britain of "piracy"

Iran's Defense Minister Amir Hatami accused the United Kingdom of "maritime piracy" after the British Royal Marines detained an Iranian oil tanker near Gibraltar and said Tehran would not "tolerate" such acts. He also claimed that the move was a violation of the Joint Comprehensive Action Plan (JCPOA), also known as the Iranian nuclear deal.

"The British government, in a provocative move, seized an oil tanker operated by Iran off the coast of Gibraltar, which is contrary to the international regulations and the obligations of the European countries that signed the nuclear agreement," Hatmi said, quoting Mehr News. Agency.

Oil trading
  • Brent crude for September delivery settled at $ 64.25 a barrel at 9:04 am.
  • US crude for August delivery settled at $ 57.49 a barrel after ending Friday's trading up 0.3%, cutting weekly losses to 1.6%.


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