US, Iran face-off to send oil price sky high

The Trump Effect, Crude Oil Prices Fall Across the Board

The Trump Effect, Crude Oil Prices Fall Across the Board

But the Iranian leader also did not mention his previous threats to start an oil export blockade on the Gulf in response to U.S. efforts to revive sanctions against Iran.

Trump fired back at him directly, tweeting at him to "NEVER, EVER THREATEN THE UNITED STATES AGAIN OR YOU WILL SUFFER CONSEQUENCES THE LIKES OF WHICH FEW THROUGHOUT HISTORY HAVE EVER SUFFERED BEFORE".

"As far as Indian Oil is concerned, we are always very well prepared for the eventualities", said Subodh Dakwale, executive director (corporate communications and branding) and national spokesperson, IOC.

"While oil prices were the primary beneficiary of the weekend's headline battle between President Trump and Iranian President Rouhani, that boost started to fizzle as traders then veered to oversupply concerns", said Stephen Innes, head of trading for APAC at OANDAÂ brokerage.

Iranian officials described the US move as an economic war.

Philips, Asus, Pioneer and D&M hit with e-commerce fines
The four companies used automated software that monitored prices at their partner retailers to make sure they followed rules. The conduct of Asus related to two Member States (Germany and France) and took place between 2011 and 2014.

On July 17 Iran filed a lawsuit against the United States illegal withdrawal from the nuclear deal and reinstating its unilateral, saying that the USA pullout violates a 1955 treaty between the two countries.

Echoing Iranian President Hassan Rouhani's stances against the USA, the general recommended the United States not to play with the lion's tail, saying the bases and interests of the enemies, particularly the U.S., are within the reach of the Islamic Republic's "overt and covert power".

"If America wants to take a serious step in this direction it will definitely be met with a reaction and equal countermeasures from Iran", foreign ministry spokesman Bahram Qassemi said.

"The remarks made by the President in his recent trip to Europe stating that, 'if Iran's oil export is blocked, no other country is region can export oil either, ' are important remarks that represent the approach and policies of the establishment".

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