LONDON WALLET
  • Home
  • Investing
  • Business Finance
  • Markets
  • Industries
  • Opinion
  • UK
  • Real Estate
  • Crypto
No Result
View All Result
LONDON WALLET
  • Home
  • Investing
  • Business Finance
  • Markets
  • Industries
  • Opinion
  • UK
  • Real Estate
  • Crypto
No Result
View All Result
LondonWallet
No Result
View All Result

Embattled Iran slams consequences of war on oil markets

Robert Frost by Robert Frost
July 9, 2025
in Industries
Embattled Iran slams consequences of war on oil markets
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter


You might also like

Vietnam setting bans on gasoline motorcycles next year, followed by cars

Manitou and Hangcha commit to heavy equipment battery production JV

With another tariff deadline looming, these 10 things are going the right way for stocks

Dilara Irem Sancar | Anadolu | Getty Images

Iran’s oil minister on Wednesday criticized the effects of war-led disruptions to oil markets, weeks after Tehran’s 12-day hostilities with Israel sent crude price soaring.

In remarks via videoconference for the OPEC seminar in Vienna, Mohsen Paknejad said, “Whatever the cause, an aggression of war that leads to the disruption of the supply of oil and gas resources to the international market imposes … complications on energy producers, and subjects national economies to hardships.”

“I believe we all need to take a principled stand against the resort to, and use of war, as a tool of pursuing political objectives,” he said.

Iran is the third-largest producer in the influential OPEC alliance and holds the organization’s rotating one-year presidency in 2025.

The security of Tehran’s supplies — which averaged 3.3 million barrels per day in May, according to the June OPEC monthly oil market report that cites independent analyst sources — came under scrutiny last month, as Iran engaged in direct missile and drone strikes with long-time regional foe Israel.

Tensions further escalated when the U.S. attacked three Iranian nuclear facilities, Fordo, Natanz and Isfahan, in what U.S. President Donald Trump and Israeli Prime Minister Benjamin Netanyahu have repeatedly touted as a victory over Tehran.

Iran and Israel ultimately agreed to, and have been implementing, a Washington-brokered ceasefire since June 24, offering relief to oil prices that have since retreated amid concerns over long-term demand and output increases from some OPEC producers. The security of Iranian supplies remains a concern within the producer group’s considerations when deciding its output strategy, an OPEC+ delegate previously told CNBC.

Bob McNally, founder and president of Rapidan Energy Group, echoed that sentiment on Wednesday, telling CNBC’s Dan Murphy that “geopolitics is by far the biggest Black Swan,” or unpredictable factor, governing the market picture in the near-term, with Iran as an ongoing concern.

“We are not out of the woods with Iran,” he said with respect to lingering questions over the fate of Tehran’s nuclear program, which Israel and the U.S. have cited as the reason behind their recent offensive.

“What we believe in here is that the last 20 years of just sort of kicking the can down the road with Iran is likely to come to an end,” he added.

Trump, who also took a strict and sanctions-based approach to engaging Tehran during his first term, has made a priority of pursuing negotiations to achieve a so-far elusive nuclear deal with Iran during his second presidency. Late last month, Iran’s parliament approved a bill on suspending cooperation with the U.N.’s nuclear watchdog, the International Atomic Energy Agency.

“We are heading to where we’re going to have either a diplomatic deal, lifting of sanctions and a more benign scenario, or, I think we’re just setting up for the next round of conflict, especially if Iran attempts to go for a bomb or refuses to negotiate or even reconstitute its sort of shattered air defense system,” McNally noted.

Washington’s sanctions – bolstered by a fresh wave on July 3 – have crippled Iranian crude exports, the backbone of the Middle Eastern country’s economy. Most of Tehran’s barrels now head to China, often transported by Iran’s “shadow fleet” of off-grid oil tankers and intermediating shell companies.



Source link

Share30Tweet19
Previous Post

CBI calls for bold action to revitalise UK public equity markets – London Business News | London Wallet

Next Post

JPMorgan upgraded by KBW one day after downgrade at other firm knocked stock

Robert Frost

Robert Frost

Jutawantoto Jutawantoto Jutawantoto Jutawantoto Berita Terbaru Hari

Recommended For You

Vietnam setting bans on gasoline motorcycles next year, followed by cars
Industries

Vietnam setting bans on gasoline motorcycles next year, followed by cars

July 21, 2025
Manitou and Hangcha commit to heavy equipment battery production JV
Industries

Manitou and Hangcha commit to heavy equipment battery production JV

July 21, 2025
With another tariff deadline looming, these 10 things are going the right way for stocks
Industries

With another tariff deadline looming, these 10 things are going the right way for stocks

July 21, 2025
These cars are losing value fast — that’s GREAT news for used EV buyers!
Industries

These cars are losing value fast — that’s GREAT news for used EV buyers!

July 20, 2025
Next Post
JPMorgan upgraded by KBW one day after downgrade at other firm knocked stock

JPMorgan upgraded by KBW one day after downgrade at other firm knocked stock

Related News

How emerging alternatives to AFFF foam are setting new standards in firefighting safety – London Business News | London Wallet

How emerging alternatives to AFFF foam are setting new standards in firefighting safety – London Business News | London Wallet

September 27, 2024
How first-time buyers can live in central London with a £6,300 deposit

How first-time buyers can live in central London with a £6,300 deposit

October 12, 2023
Veeva stock rallies after cloud company’s quarterly profit, revenue surpass forecasts

Veeva stock rallies after cloud company’s quarterly profit, revenue surpass forecasts

May 31, 2023

Browse by Category

  • Business Finance
  • Crypto
  • Industries
  • Investing
  • Markets
  • Opinion
  • Real Estate
  • UK

London Wallet

Read latest news about finance, business and investing

  • Contact
  • Privacy Policy
  • Terms & Conditions

© 2025 London Wallet - All Rights Reserved!

No Result
View All Result
  • Checkout
  • Contact
  • Home
  • Login/Register
  • My account
  • Privacy Policy
  • Terms and Conditions

© 2025 London Wallet - All Rights Reserved!

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?