Saudi Arabia will feel Trump’s Iranian oil slap too gfhay
Mike Pompeo, the U.S. secretary of state, said on April 22 that countries importing Iranian oil would no longer be granted waivers to U.S. sanctions.
Pompeo said that he had been in contact with the United Arab Emirates and Saudi Arabia to ensure oil markets had appropriate supply as Iranian imports decreased, without elaborating. China, India, Japan, South Korea, Taiwan, Turkey, Italy and Greece have in the past six months been allowed limited purchases from Iran.
Benchmark Brent crude oil futures had earlier risen by as much as 3.2 percent to $74.31 a barrel, the highest since Nov. 1, in early trading on April 22 in reaction to expectations of tightening supply. U.S. West Texas Intermediate futures climbed as much as 3 percent to $65.87 a barrel, the highest since Oct. 30.
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