Raw oil storage tanks at the Juaymah tanks park in the Saudi Aramco Ras Tanura oil refinery and the oil terminal in Saudi Arabia in 2018.
Simon Dawson | Bloomberg | Getty images
US crude crude oil contracts increased by more than 4% on Wednesday, while tensions intensified between the United States and Iran, President Donald Trump expressing the doubt that the two countries will reach a nuclear agreement.
Brent -gross trial contracts increased by $ 2.90, or 4.3%, to end at $ 69.77 per barrel. Us West Texas Intermediate Brude won $ 3.17, or 4.9%, to settle at $ 68.15.
The United States is preparing a partial evacuation of its embassy in Iraq due to increased security risks in the region, sources in Reuters told. The US military authorized the “voluntary departure” of people with the troops of the Middle East due to the increase in tensions with Iran, sources told the Associated Press.
Meanwhile, the UK maritime trade operations, a unit of the Royal Navy which exchange information between commercial sender and military forces, warned against increased tensions in the region which could lead to a “climbing of military activity”.
Trump said he was losing confidence that the United States and Iran can conclude an agreement on the Islamic Republic nuclear program that would avoid war in the region.
“They seem to delay, and I think it’s a shame, but I’m less confident now than I would have been a few months ago,” Trump told New York Post in a story published early Wednesday. “Something happened to them, but I am much less confident than an agreement is concluded.”
Trump told the post that Iran did not acquire a nuclear weapon, “but it would be more pleasant to do it without war, without people die.”
“But I don’t think I see the same level of enthusiasm for them to conclude an agreement,” said the president. “I think they would make a mistake, but we will see. I suppose time will tell us.”
The Iranian Minister of Defense, for his part, warned that the American bases in the region were within reach of the Islamic Republic, according to the press agency of the Islamic Republic of the State. Tehran would not hesitate to target all the American bases in the region, said Brigade General Aziz Nasirzadeh.
