Low oil prices give President Donald Trump more leverage over Iran, U.S. Energy Secretary Chris Wright said Friday, speaking as the two adversaries teeter on the brink of another conflict.
“The world is very well supplied with oil right now, and I think it gives President Trump more leverage in his geopolitical actions to not worry about a crazy spike in oil prices,” Wright told CNBC in an interview when asked about the risk of a supply disruption due to tensions with Iran.
The oil market is closing monitoring tensions in the Middle East for any sign that crude supplies could be disrupted.
Yes and no, if the oil stopped coming from the Persian Gulf the price of oil would skyrocket. So if Iran was to go down in flames, Iran would make sure the oil would not get out of the Persian Gulf as kind of a doomsday defence.
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Low oil prices give President Donald Trump more leverage over Iran, U.S. Energy Secretary Chris Wright said Friday, speaking as the two adversaries teeter on the brink of another conflict.
“The world is very well supplied with oil right now, and I think it gives President Trump more leverage in his geopolitical actions to not worry about a crazy spike in oil prices,” Wright told CNBC in an interview when asked about the risk of a supply disruption due to tensions with Iran.
The oil market is closing monitoring tensions in the Middle East for any sign that crude supplies could be disrupted.
More details: [https://cnb.cx/4rVx8cP](https://cnb.cx/4rVx8cP)
Yes and no, if the oil stopped coming from the Persian Gulf the price of oil would skyrocket. So if Iran was to go down in flames, Iran would make sure the oil would not get out of the Persian Gulf as kind of a doomsday defence.