Oil Prices Rise and US’ stockpiles dwindle After Attack On Saudi Tanker; How General Soleimani Put Words Into Action

On Thursday, Iranian Quds force chief Qassem Soleimani said that the Red Sea was not secure with the presence of American troops in the area, Iran’s Arabic-language Al Alam television reported.

In a speech broadcasted on al Alam television, he said “The Red Sea which was secure is no longer secure with the American presence … [U.S. President Donald] Trump should know that we are a nation of martyrdom and that we await him”. General Soleimani also warned Trump against war, saying it would “destroy all that you possess.”

“You know that this war will destroy all that you possess. You will start this war but we will be the ones to impose its end. Therefore, you have to be careful about insulting the Iranian people and the president of our Republic,” Soleimani added. “You know our power in the region and our capabilities in asymmetric war. We will act and we will work,”

The Red Sea is one of the most important trade routes in the world for oil tankers and now according to a report from Bloomberg, crude oil prices have risen and the United States’ stockpiles have dwindled following an attack by Yemen’s forces on Saudi Arabian tankers.

According to the Bloomberg report, “Oil prices on the London Stock Exchange have been heading towards the highest closing point in two weeks after an attack on Saudi Arabian tankers, raising concerns about its supplies”.

The report added that in the US, crude oil stocks fell last week to their lowest level since 2015, while refined oil supplies have fallen for the fourth consecutive week.

On Thursday, The US Department of Energy said that the country’s commercial oil reserves for the past week fell 6.1 million barrels to 404.9 million barrels. the department confirmed that “This is the lowest level of US oil reserves since February of 2015”.

Yesterday, Saudi Arabia announced that the country decided to  “temporarily halt” all oil shipments through the strategic Red Sea shipping lane of Bab El-Mandeb after Iranian-backed Yemeni forces attack two big oil tankers.

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