Trump Says U.S.-Iran Memorandum "Is Over"

MT Newswires Live07-08 16:26

At the NATO summit in Ankara, Trump said the U.S.-Iran Islamabad memorandum "is over" and called the Iranian regime "sick", signaling the breakdown of a ceasefire framework 20 days into a planned 60-day arrangement.

He also revoked sanctions waivers tied to the deal. A Pakistan-brokered 14-point framework had briefly restored Iranian crude exports of several mln bpd; ending the deal and rescinding waivers risks a renewed systemic reduction in global crude supply, reinforcing upside pressure on WTI above $70 and on inflation expectations.

Following yesterday's attack on a Qatari LNG tanker in the Strait of Hormuz, U.S. forces have launched retaliatory airstrikes. The return to kinetic confrontation heightens the risk of indefinite disruption to the Strait of Hormuz and Gulf of Oman and could push shipping insurance premiums and energy risk premia sharply higher.

Global crude oil prices staged a steep rally, with both WTI and Brent crude climbing more than 4%.

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Comments

  • DARLEZ
    07-08 16:59
    DARLEZ
    You can't reason with a thug, ever
  • Gold9292
    07-08 16:41
    Gold9292
    beliveing in 🇺🇲 Trump, the pigs also can climb up trees
  • Deshost
    07-08 16:37
    Deshost
    Sickman calling the other sick and expect mutual agreement to a deal. The end result is obvious isn't it?
    • Jeremyyeojc: 
      Just a game of chess. get your TDS shot now at PFE.
  • TOng Nen
    07-08 16:35
    TOng Nen
    Trump is SICK, period ! Which state leader behaves like a kinde boy in his dealings at the world stage like Trump ? America is doomed. Blessed the parents of the US marines involve in this battle and be ready to receive your  loved ones wrapped with the national flag.
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