Oil rises on U.S.-Iran tension

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After meeting European Commission President Jean-Claude Juncker at the White House on Wednesday, U.S. President Donald Trump agreed to refrain from imposing auto tariffs while the European Union and the United States start talks on cutting other trade barriers.

A senior Iranian military commander said on Thursday Donald Trump should address any threats against Tehran directly to him and he mocked the U.S. president as displaying the ethics of "night clubs and gambling halls", the Iranian Young Journalists' Club reported.

"Although Trump has been running the office for a year, his speech resembles that of a gambler", said Gen. Soleimani.

Foreign Minister Javad Zarif tweeted in response, "COLOR US UNIMPRESSED: The world heard even harsher bluster a few months ago".

Rouhani had warned Trump Sunday to stop "playing with the lion's tail" and threatening Iran, "or else you will regret it".

The tension between Presidents Donald Trump and Hassan Rouhani also escalated to new levels this week after Rouhani warned Trump that "war with Iran is the mother of all wars" and cautioned, "Mr. Trump!"

Soleimani said it was his duty as a soldier to reply to Trump's rhetoric.

Could Imran Khan's vote in Pakistan election be cancelled?
"We reject this result", Sharif, who leads the incumbent Pakistan Muslim League-Nawaz (PML-N), told a press conference in Lahore. Both parties said they would announce their course of action on Thursday, while PTI dismissed accusations of malfeasance.

An estimated 4.8 million barrels per day of crude oil and refined products flowed through the Bab al-Mandeb strait in 2016 towards Europe, the United States and Asia, according to the U.S. Energy Information Administration. "We are ready to stand against you".

Official U.S. Energy Department data will follow on Wednesday. "You are beginning to see the economic impact, combined with understandings inside of Iran of the Kleptocracy that it is, leading to fundamental decisions that the Iranian people will ultimately have to make", he told lawmakers. Iran has absolute control over the Strait of Hormuz, through which oil shipments from Saudi Arabia, UAE and Iran pass by - accounting for 30% for global oil export.

U.S. President Donald Trump threatened on Friday to impose tariffs on all $500 billion of Chinese exports to the United States unless Beijing agreed to major changes to its technology transfer, industrial subsidy and joint venture policies.

The loss of Iranian crude to the market - amid USA sanctions on the Islamic Republic, which get underway in November - is seen by many as the biggest risk to global supplies.

Oil prices were mixed on Tuesday as benchmark Brent crude rebounded from earlier losses with market participants divided in their concerns amid rising tensions between the United States and OPEC producer Iran and signs of oversupply, Reuters reports.

"The Red Sea which was secure is no longer secure for the presence of American [military]".

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