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oil prices rising amid concerns over supply and tensions with Iran

2019-07-09 01:08 pm | Resource: News | No Views : 51

oil prices rising  amid concerns over supply and tensions with Iran

Oil prices rose above $ 64 a barrel on Tuesday after OPEC and its allies extended production cuts as well as rising tensions in the Middle East that outweighed global growth fears.

OPEC and its allies agreed last week to extend oil supply cuts until March 2020 to prevent prices from falling amid rising production from the United States.

Iran reportedly violated a uranium enrichment ceiling under a troubled nuclear deal in 2015, a year after Washington withdrew from the historic agreement between world powers and Tehran. The European Union said it was deeply concerned about the development and called on Iran to reverse all activities that were incompatible with its commitments to its dealings. US President Donald Trump warned Tehran that "Iran is the best to be cautious."

Zarif: Bolton, Netanyahu has attracted Trump to kill the overall joint action plan

In this regard, US National Security Advisor John Bolton and Israeli Prime Minister Benjamin Netanyahu "lured" US President Donald Trump to leave the Joint Comprehensive Action Plan (JCPOA), also known as the Iranian Nuclear Agreement, and forced Iran to respond by enriching uranium beyond the border Iranian Foreign Minister Mohammad Javad Zarif said in a tirade on Tuesday that it was scheduled for 2015.

"Bolton and Netanyahu killed the Paris agreement between E3 and Iran in 2005 by insisting on non-enrichment," Zarif wrote, "Iran has increased its enrichment 100 times by 2012. Now they have attracted realDonaldTrump to kill #JCPOA with the same illusion #B_Team has not learned. ought to ". The Foreign Minister has blamed Group B for deteriorating relations between Washington and Tehran on several occasions. Media reports indicate that in addition to Bolton and Netanyahu, also known as Bibi, Zarif also includes Crown Prince Mohammed bin Salman and Crown Prince of Abu Dhabi, Prince Mohammed bin Zayed.

Oil prices also receive some support from media reports that US crude inventories are falling. Where the US Petroleum Institute released its weekly report on US crude stocks later today.

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(CURDE OIL - WTI ) We offer you oil analysis denominated by US dollar on Wednesday, April 17, 2019, with the most important forecast for the price of oil denominated by US dollars in the market. Time frame Used - four hours Oil is moving in a sideway direction in the near term. The purchasing power managed to push oil higher to close at the end of trading today, rising…

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