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Petroleum (2). From Iran: "The US move is a mistake"

Crude oil price rises to the maximum from 6 months

Iran's oil minister Bijan Zanganeh -speaking in Parliament- said that "America made a serious mistake in politicizing crude oil and turning it into a weapon in a very fragile market". According to Zanganeh the repercussions on the international market will be many, especially for those eight countries (Italy, China, Turkey, India, Japan, South Korea, Taiwan and Greece) which had been given an exemption by the United States, allowing it to continue to buy Iran's oil despite the sanctions imposed by President Donald Trump. This extraordinary measure will expire on May 1, causing global price increases and the repercussions will fall on all sectors that depend on crude oil products, including air transport. Zanganeh also assured that the US sanctions will not be able to clear Iranian oil exports, but in the meantime today the price of crude oil has risen to its highest levels in six months.

M/A - 1221067

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