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Oil markets may have to prepare for a "bigger break," says a strategist.



Meanwhile, Washington continues to exert pressure on Tehran when US President Donald Trump called the Islamic Corps of the Islamic Revolutionary Guard a terrorist organization on Monday – for the first time, America officially called the military another country a terrorist group.

The tensions between the two countries were faced, as the United States came out of the 2015 nuclear deal, known as the Joint Integrated Action Plan, with Iran. The administration also resumes sanctions on Tehran's raw material exports by striking an Iranian economy

Commenting on the recent statements made by individuals such as US Secretary of State Mike Pompeo of "complete destruction of Iranian exports," Driscoll said that this goal is "unrealistic" and " perhaps even crazy ".

"When oil prices grow, it will be harder to keep this oil out of the market," he said.

Driscoll said that in a "black swan," Tehran loses patience with Washington and is trying to close the Strait of the Strait ̵

1; a critical sea pass for crude oil supplies, it will lead to the loss of a "critical point of the throttle, which holds 30 percent of the world's oil and gas ".

Oil prices climbed to new highs in 2019, while international crude oil contracts for Brent increased by 1.1 percent per barrel. The US oil futures also increased by 2.1 percent to settle at $ 64.40 a barrel

. "When I was on the show a month ago, I said that we would breach $ 70 on Brent, but that would not be long," said Driscoll.

"Well, let me change that, I think this has a bit more legs," he said. "Libya has started to play again, Iran, Venezuela, everything is getting stronger.

– Natasha Turak, Reuters and CNBC, contributed to this report.


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