Economy

Trade tensions weigh on oil prices

Trade tensions weigh on oil prices

The arrival of the ATR72-600 airplanes at Tehran's Mehrabad International Airport represented perhaps the last benefits Iran will see under the nuclear deal after President Donald Trump withdrew from it in May.

Under the 2015 pact, signed by the US, UK, Britain, China, Russia and the European Union, Tehran agreed to scale back its uranium enrichment programme.

Trump unilaterally withdrew the United States from the multilateral deal with Iran in May and announced plans to reimpose sanctions on the Islamic Republic, that would eliminate Tehran's oil revenues.

With tensions high ahead of the return of U.S. sanctions on Tuesday, the government of President Hassan Rouhani also faces opposition from conservatives and religious leaders, who have long disliked his outreach to the West and accuse him of governing only for the rich.

Senior Iranian officials have warned the country would not easily yield to a renewed US campaign to strangle Iran's vital oil exports.

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The duo have two weeks before the Premier League gets back underway, and the former Roma player is confident he will be ready. " Liverpool are one or two players from the title", said Adam on The Monday Night Club .

Repeating the pattern of past weeks, crude prices on Friday ended the week down by 0.4 percent for West Texas Intermediate and 1.5 percent for Brent, this time in reaction to China state oil major Sinopec cutting its purchases of us product due to the trade spat between both countries.

"There are rising concerns, all this time we have uncertainties on the Iran sanction and uncertainties over tariffs, as we certainly don't need any more trigger for a significant swing [in prices] in one way or another", said Jim Ritterbusch, an analyst in Galena, Illinois.

But US President Donald Trump made a decision to reimpose punishing sanctions against Iran, whom he has accused of posing a security threat.

Iranian President Hassan Rouhani has warned the USA against any attempt to stop Tehran's oil trade, threatening to block the strategically important Strait of Hormuz.

If the US wants negotiations, it should stop pressures and sanctions, Qasemi was quoted as saying by official IRNA news agency.

West Nile infected mosquitoes found in Louisville
Eight counties have mosquitoes that have tested positive for West Nile, according to the Idaho Department of Health and Welfare . Less than one percent of infected people develop a serious neurologic illness such as encephalitis or meningitis.

Iran's Revolutionary Guards confirmed on Sunday it had held war games in the Gulf over the past several days, saying they were aimed at "confronting possible threats" by enemies, the state news state news agency IRNA reported.

India, the second purchaser of Iranian crude, also increased its imports from Iran last month.

"China and Iran unwaveringly maintain normal trade and economic ties".

The Trump administration had wanted Iranian oil exports cut to zero by November 4. "China will continue to cooperate with Iran adhering to its worldwide obligations", she added. The Trump administration said it wanted Iran's oil customers to stop imports by then.

According to data compiled by the agency, China boosted its purchases of Iranian oil in July, snapping up more than a third of the country's total exports.

Anthony Martial issues statement after leaving Manchester United's pre-season tour early
Mourinho re-signed Lukaku last summer to make him United's second most expensive player ever, behind midfielder Paul Pogba . Spurs would want the disgruntled Anthony Martial in return, but United are not keen on selling to a Premier League rival.


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