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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Moves Lower As Trump Says U.S. Officials Met With Iranians

FXEmpire · last updated

Earlier, Trump threatened Iran annihilation in case the country did not accept a deal. According to recent reports, Gulf states urged Trump to avoid escalation in the Middle East. Gulf countries worry that Iran could destroy their oil facilities in retaliation for a potential U.S. attack.

Saudi Arabia has began to restart the key East-West pipeline which was damaged by an attack. Reports suggest that Saudi Arabia aims to restart the pipeline by Saturday. Saudi Aramco did not comment on this issue, but the market believes that oil will soon start flowing through the pipeline.

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