China tells US to avoid 'wrong moves' over Iran oil controls

Iranian Revolutionary Guard speedboat moves in the Persian Gulf near an oil tanker

Oil Prices on Rise Amid US Announcement to End Waivers for Iranian Oil Buyers

"Inheritors of ancient Persian civilisation don't base strategy on "advice" of foreigners-let alone Americans".

The Strait of Hormuz, a vital shipping route linking Middle East oil producers to markets in Asia, Europe, North America and beyond, has been at the heart of regional tensions for decades. June crude allocations will be decided early next month, he said. Trump then added pointedly, "If you are doing business with the IRGC, you will be bankrolling terrorism".

India will likely hold talks with the United States government and press the latter for the continuation of importing oil beyond May 2.

"We will stop importing oil from Iran".

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US, being an important political and strategic partner of Indian in the worldwide context, the Iranian diktat came as a surprise for India, according to senior officials. "I don't know what that deal is", Zarif said. "Bibi, Bolton, bin Zayad, bin Salman".

Zarif said Trump was being pushed by what he mockingly called "the B Team" - Israeli Prime Minister Benjamin Netanyahu, Saudi Crown Prince Mohammed bin Salman, Abu Dhabi Crown Prince Mohammed bin Zayed and John Bolton, the United States leader's hawkish national security advisor.

Rouhani also said Iran is willing to negotiate with the United States only when Washington removes pressure and apologizes, his website reported.

Zarif went on to assert that Trump was being "lured into a plot" by an anti-Iran coalition. "And it will cost another $7 trillion".

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"We believe that Iran will continue to sell its oil".

Sources said India has impressed upon Washington time and again to keep the Chabahar Port out of the sanctions' regime as any attempt to derail the project would ultimately hurt the people of Afghanistan. However, the U.S. had granted a six-month waiver to those eight countries.

Sheeran did not challenge her guest on this point, and no broader discussion ensued concerning the Iranian regime's support for the Lebanese terrorist group Hezbollah, Iran's role in crushing the independence bid of Iraqi Kurdistan overwhelmingly supported by a September 2017 referendum, Iran's attempt to control a land corridor stretching to Israel's northern border or similar issues.

WTI (oil futures on NYMEX) is seen reversing its corrective slide to 65.80 levels, as the bulls are back in control and regain the 66 handle, as the sentiment remains underpinned by the latest upbeat comments from the Saudi Arabian Energy Minister Al-Falih while the ongoing geopolitical tensions between the U.S. also remain oil-supportive. "We will continue to find buyers for our oil and we will continue to use the Strait of Hormuz as a safe transit passage for the sale of our oil", he said.

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