Tuesday, 25 September 2018
Latest news
Main » Iran deal withdrawal, other global issues risk higher oil prices - Goldman Sachs

Iran deal withdrawal, other global issues risk higher oil prices - Goldman Sachs

10 May 2018

"Those doing business in Iran will be provided a period of time to allow them to wind down operations in or business involving Iran", President Trump said.

Back in March, Saudi Crown Prince Mohammed bin Salman says his country will develop a nuclear bomb if Iran does so.

The world's top oil exporter has previously said it wants nuclear technology only for peaceful uses, but has left unclear whether it also wants to enrich uranium to produce nuclear fuel, a process which can also be used in the production of atomic weapons. "Saudi Arabia will not in any way act independently of its partners".

On Wednesday, a separate OPEC source had said Saudi Arabia was monitoring the impact of the US move on oil supplies and was ready to offset any shortage but would not act alone.

The oil price is at its highest since late 2014 and is on track for its fourth consecutive quarterly gain, the longest such stretch for over 10 years.

Warren Buffett on Bitcoin: 'It's Probably Rat Poison Squared'
The Microsoft founder even told a story of how he was given some bitcoins as a birthday present, which he sold a few years later. Bill Gates concluded that the underlying blockchain technology is very important, but cryptocurrencies themselves are worthless.

The Arab League on Wednesday called for the Iran nuclear deal to be revised, a day after President Donald Trump pulled the United States out of the accord.

Trump's claim that his withdrawal decision from the Iran deal will strengthen his hand in negotiating a better Iran deal is yet to be proven. Worldwide agencies responsible for inspecting compliance have said that Iran was in full cooperation with the agreement's terms.

The outlines of that agreement remain unclear, and may not be entirely clear to Washington and Riyadh, but the understanding is vital to the successful implementation of sanctions.

Trump has consistently been a harsh opponent of the Iran deal, calling it "the worst" and "defective at its core".

The Kingdom of Bahrain has also supported the decision of Trump.

Kim Jong Un Secretly Met With Xi Jinping Again
Xi hosted a banquet and told Kim of his support for North Korea's strategic shift towards economic development, Xinhua added. The two leaders could be exploring ways to do that without violating United Nations sanctions, he added.

"Whether or not (the Iranians) go for a military programme, you're going to get a nuclear race in the Middle East", said Dorsey.

The administration would be wise to coordinate strategies on both the Iran and Saudi Arabia nuclear programs.

He stated that Iran must "cease providing ballistic missiles to terrorist organizations, like so-called Hezbollah and the Houthis".

Saudi Arabia announced on May 9 that it will be monitoring the effect of the USA withdrawal from the JCPOA (also known as the Iran deal) on the crude oil market, as Iran's market share could now decrease.

Iran's actions amount to a "declaration of war", the Saudi foreign minister warned on Wednesday, after two ballistic missiles were fired toward Riyadh by Tehran-backed Houthi militias.

Armenia elects protest leader as prime minister
Nikol Pashinyan was a famous journalist in Armenia Editor-in-Chief of opposition newspaper "Haykakan Jamanak" (Armenian Times). They included 13 lawmakers representing Sarkisian's Republican Party of Armenia (HHK).

Iran deal withdrawal, other global issues risk higher oil prices - Goldman Sachs