The price of Brent crude oil has run over $67 by now. The last time it soared as high was in spring 2015. Such a sustainable rally is basically underpinned by the news from Iran. The country is still being swept by ravaging protests compromising the country’s oil industry as oil workers take part in these too. Traders cannot stay unaffected by these developments.
Iran is one of the world’s richest countries in terms of oil reserves, consequently the value of its news cannot be overestimated.
Recently a number of protest planners were reported to be taken in. As Iran’s president Hassan Rouhani has it, the current chaos in the country has been to some extent inspired by the United States.
Interestingly, the US leader was hardly embarrassed by Rouhani’s hostile rhetoric. What is more, Donald Trump said he utterly and completely supports the Iranian rebels and blames Iran’s government for repressive domestic practices.
