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US oil touches $75 amid fears Iran will block Middle East shipments

US oil touches $75 amid fears Iran will block Middle East shipments

Publicerat av Tony Harkén torsdag, 05 juli 2018.

West Texas Intermediate (WTI), the US benchmark, has surged to $75 per barrel for the first time since the oil crisis of 2014.

The movement came after Iran reportedly threatened to disrupt oil shipments from the Middle East Gulf if Washington pressed ahead with sanctions against Iran. On Wednesday, the WTI slipped to $74.59 per barrel, still one of the highest marks in over three years.

Iranian President Hassan Rouhani said: “It has no meaning for Iranian oil not to be exported, while the region’s oil is exported.” New US sanctions against Tehran are on the way as the largest three producers in the world – Russia, Saudi Arabia and America – are increasing output.

Read more at - https://on.rt.com/992t

Publicerat av

Tony Harkén

usa

Klockan i Washington, USA

US-WA - Time
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