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World News See other World News Articles Title: US expects oil market stress once Iran bans return PressTV... The US has acknowledged that oil prices would jump once sanctions on Iran are implemented but says it will not tap into its own reserves to meet a likely supply gap and would instead wait for Russia and Saudi Arabia to increase their outputs. US Energy Secretary Rick Perry was quoted by media as saying that the global oil market "is going to be stressed" when US sanctions against buyers of Iranian crude return in November. Perry emphasized that the US government was confident that increased production from Saudi Arabia and Russia could meet the supply gap. "The Strategic Petroleum Reserve is in place for emergency natural disasters," Platts energy news services quoted Perry as telling reporters at the World Gas Conference in Washington, DC on Thursday. "So I would not recommend [tapping it], and I don't think the president would either." "We look at this as an opportunity for OPEC members to fill this gap, if you will," he added. Earlier, the CNBC had quoted experts at Bank of America Merrill Lynch as saying that disruption to crude oil supplies from Iran as a result of US sanctions could push oil prices to as high as $90 a barrel. “We are in a very attractive oil price environment and our house view is that oil will hit $90 by the end of the second quarter of next year,” said Hootan Yazhari, head of frontier markets equity research at Bank of America Merrill Lynch. In May, US President Donald Trump announced that he would pull America out of a 2015 nuclear agreement with Iran and re-impose the sanctions that the deal had envisaged to be lifted. He has already emphasized that the sanctions which would be imposed on Iran would be “at the highest level”. The sanctions would include a universal ban on Iran over buying or acquiring US dollars as well as restrictions over purchases of crude oil from the country and investing in its oil sector projects. Poster Comment: wisdom... That's the cheese trap for Russia, but Russia is smarter thanot that to fall into USA crappie idea. USA thinks they can separate Iran and Russia by telling Russia : oh yes we put iran out and you Russia take their place. Russia knows very well that USA is the most dangerious savage hungry wolf waiting for iran to die ( in the USA dream ) and take over iran and then from there get to russia. USA wants to take over all the countries around Russia, so they can get to russia. As USA plan didn'the work with occupying Ukraine and Georgia . Poland made a big mistake allowed USA to establish militarism base in their country. [Tatarewicz] It's the Zionist Khazars in Israel who want to take back Russia. US is just their Joe-boy since Jews make sure only US Congress candidates who support Israel get the money and other campaign support to win seats in US House and Senate. US doesn't need to conquer anyone; it's business and technological expertise as well as its market has been invaluable to those abroad as has been demonstrated in China. Post Comment Private Reply Ignore Thread
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