BREAKING NEWS

Iran's ability to influence oil market is limited - US's Perry

By REUTERS

JULY 22, 2019 17:41

JERUSALEM - The rise in new suppliers of oil and gas has reduced the ability of Iran to influence global oil markets, U.S. Energy Secretary Rick Perry said on Monday.

The price of crude jumped on Monday following Iran's seizure on Friday of a British-flagged oil tanker in the Strait of Hormuz, but had pared initial, steep gains by 1427 GMT.

"I am concerned about it," Perry told a news conference in Jerusalem, referring to the price rise that followed the ship's capture. "But we find ourselves in a completely different situation than we were a decade ago."

"New suppliers should help keep a steady supply of fuel - whether it's crude, natural gas or other secondary products. I think you will see less displacement of the market when there is an event like we see happening," he said.

"The Iranians will have a more difficult time in influencing the market than they would have 10 years ago."

IDF strikes Hamas terrorists in Gaza City area

By JERUSALEM POST STAFF

12/25/2024 09:31 PM

Mozambique police commander says 33 dead, 1,500 escaped in Maputo prison riot

By REUTERS

12/25/2024 08:57 PM

Netanyahu at candle-lighting: The Houthis will learn

By JERUSALEM POST STAFF

12/25/2024 08:16 PM

Nahal Oz observer families to receive access to full recordings

By JERUSALEM POST STAFF