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renegadebusdallas.com May 24, 2018


Iran deal withdrawal, other global issues risk higher oil prices - Goldman Sachs

10 May 2018, 12:22 | Lionel James

"We believe the nuclear deal was flawed", al-Jubeir said, criticizing portions of the agreement that expire and the fact that its scope is limited to nuclear issues.

In an anticipated decision, Trump withdrew from the deal on Tuesday, having previously said that Iran was in violation of the "spirit" of the worldwide agreement.

Trump's statement on why he was pulling out of the worldwide nuclear agreement with Iran was expressed in terms that made it sound like Trump was determined to go to war, Pierce observed.

In a statement, the UAE ministry called on global community and the other states that are parties to the agreement to support the US stance.

UAE Minister of State for Foreign Affaris, Anwar Gargash, tweeted that Iran had been emboldened by the nuclear deal, and "its ballistic missile programme became both offensive & exportable".

In a statement carried by the official Saudi Press Agency, the Sunni Muslim kingdom said it "supports and welcomes the steps announced by President Donald Trump regarding the United States' withdrawal from the Iran nuclear deal".

It says Saudi Arabia will work with major producers to reduce the effects of any supply shortages.

What can be decided in the Premier League this week?
Predicted team- Swansea Fabianski; Van der Hoorn, Fernandez, Mawson; Naughton, Ki, King, Olsson; J Ayew, A Ayew; Abraham. Swansea is without a win in their last seven games and has two home games to close out the campaign.

The U.S., which is one of the kingdom's most important military suppliers, has backed the coalition with logistical support.

"As long as Iran was constrained and closely inspected, the Saudis could afford to put off their nuclear ambitions", Mark Fitzpatrick, executive director of the American branch of the International Institute for Strategic Studies, said on Tuesday.

USA ally Saudi Arabia has reiterated that it will build a nuclear bomb if its regional enemy Iran ramps up development of a weapons program.

"We need to assess first the impact if there is any, in terms of disruption, in terms of a reduction of Iran´s production", the OPEC source said on Wednesday. The South Asian nation's imports from Saudi Arabia were up 1.9% to about 811,000 bpd, but the big mover was imports from Iraq, up a massive 45% to 1.13-million bpd.

"The Omani, Qatari, and Kuwaiti governments have all sought to maintain pragmatic relations - economic more than political - with Iran", said Kristian Coates Ulrichsen from the Texas-based Rice University's Baker Institute.

In the week prior to Trump's decision Israeli Prime Minister Benjamin Netanyahu in an internationally-broadcast address presented old intelligence and tried to claim that Tehran was continuing to develop nuclear weapons.

Increased geopolitical tensions in the Middle East, plunging Venezuelan production, and now the US withdrawal from the Iran nuclear deal could push Brent Crude prices to $82.50 a barrel by summer, Goldman Sachs said Wednesday.



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