Once again Donald Trump changes market sentiment with a single tweet. Not every official can boast of such an influence exerted through social networking services. For example, in Russia no official or celebrity can make the ruble or oil prices rise through tweeting.
However, the US President is a different story. A mere tweet pushed the oil price up by 10 dollars. “The OPEC Monopoly must remember that gas prices are up & they are doing little to help. If anything, they are driving prices higher as the United States defends many of their members for very little $’s. This must be a two way street. REDUCE PRICING NOW!” Trump wrote on Twitter. This was enough to send oil prices upwards. Such a reaction of the market encouraged crude producers, especially Iran, over which US sanctions are looming. “Your tweets have increased the prices by at least $10. Please stop this method,” Iranian OPEC Governor Hossein Kazempour Ardebili was quoted as saying by a news agency.
However, it is difficult to predict how long prices will be rising. Foreign ministers of five other member-countries of the Iran Nuclear Deal held a meeting with Iranian officials in Vienna, where they were looking for the way of keeping the deal after the US’s exit from it. It is unclear for now whether Iran will be able to maintain its presence in the market.
