Impact of U.S.-Iran Rhetoric on Oil Prices

Ann Santiago
July 27, 2018

The claims come as the US President this week fired off a thundering, all-caps tweet warning the Iranian President, Hassan Rouhani, of war.

India has taken note of U.S. reimposing economic sanctions on Iran, the nation's second-biggest supplier of crude oil, Oil Minister Dharmendra Pradhan said today.

"Although Trump has been running the office for a year, his speech resembles that of a gambler", said Gen. Soleimani.

The head of Iran's Revolutionary Guard issued a threat to US President Donald Trump on Thursday, telling him: "We are a nation of martyrdom and we await you". "If you begin the war, we will end the war", Mr Soleimani was quoted as saying. We are ready to stand up against you.

Major-General Qassem Suleimani - commander of the special forces of the Iranian Revolutionary Guard - warned the United States not to start a conflict, replying to comments made by Trump earlier this week in which he threatened Iran.

"America should know that peace with Iran is the mother of all peace, and war with Iran is the mother of all wars", he said, according to Iran's state news agency Irna.

"Suleimani told Trump: "It is not in our president's dignity to respond to you, but I, as a soldier, will", before adding: "[Your] language belongs to cabarets.

During Monday's session, the market rose after President Donald Trump warned of dire consequences for Iran if it threatened the United States.

Iranian military officials have threatened to immediately target Israel and attack United States military bases in the Middle East if war breaks out, Reuters reported.

His comments came as Washington prepares to reimpose economic sanctions on Iran on August 6 after its withdrawal from the 2015 nuclear accord.

"Peace with Iran would be the mother of all peace and war with Iran would be the mother of all wars", Rouhani said.

The Iranian commander "knows he has a range of indirect options to needle US interests across the region", Tobias Schneider, a Middle East analyst at the Berlin-based Global Public Policy Institute, wrote Thursday on Twitter.

Trump earlier this year pulled the United States out of the global deal meant to prevent Tehran from developing a nuclear weapon and ordered increased American sanctions.

Iranian military officials have suggested recently that they could block the Strait of Hormuz, a choke point for a third of the world's oil shipments, should us sanctions prevent Iran from exporting its own oil.

He said the Red Sea, which used to be a safe place, is no longer safe for Americans today.

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