United States (US) President Donald Trump has just confirmed to Truth Social that US representatives are traveling to Islamabad where negotiations with Iran will take place on Monday. However, he also condemned Tehran’s decision to re-close the Strait of Hormuz and once again threatened to destroy all Iran’s power plants and bridges.
Iran decided to fire bullets in the Strait of Hormuz yesterday – a complete violation of our ceasefire agreement! Many of them targeted a French ship and a British freighter. That wasn’t nice, was it? My representatives are going to Islamabad, Pakistan. They will be there tomorrow evening for negotiations. ANDrecently announced that it was closing the strait, which is strange because our BLOCKADE has already closed it. They support us unknowingly and they are the ones who lose $500 million a day on the closed crossing! The United States loses nothing. In fact, many ships are currently heading to the United States, Texas, Louisiana and Alaska to load. Congratulations to the IRGC who always wants to be a “tough guy!” We are offering a very fair and reasonable CONTRACT and I hope they accept it because if they don’t, The United States will destroy every power plant and every bridge in Iran. NEVER AGAIN Lord. NICE MAN! They will concede quickly, they will fall easily, and if they do not accept the AGREEMENT, it will be my honor to do what needs to be done, what other presidents should have done to Iran over the last 47 years. TIME TO END THE IRANIAN KILLING MACHINE! President DONALD J. TRUMP
Frequently asked questions about WTI crude oil
WTI Oil is a type of crude oil sold on international markets. WTI stands for West Texas Intermediate, one of three main types, including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” due to its relatively low weight and low sulfur content. It is considered a high-quality oil that can be easily refined. It originates in the United States and is distributed through the Cushing Junction, considered the “Crossroads of the World.” It is a reference point for the crude oil market, and the WTI price is often quoted in the media.
Like all assets, supply and demand are key factors influencing the price of WTI crude oil. Therefore, global growth may drive increased demand and, conversely, delicate global growth. Political instability, wars and sanctions can disrupt supply and affect prices. Another key factor shaping prices are the decisions of OPEC, the group of major oil-producing countries. The value of the US dollar affects the price of WTI crude oil because oil is mainly sold in US dollars, so a weaker US dollar can make oil more affordable and vice versa.
Weekly crude oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Administration (EIA) influence the price of WTI crude oil. Inventory changes reflect fluctuations in supply and demand. If the data shows a decline in inventories, it may indicate increased demand, which will result in an boost in the price of oil. Higher inventories may reflect increased supply, which causes prices to fall. The API report is published every Tuesday and the EIA report the next day. Their results are usually similar and are within 1% of each other 75% of the time. EIA data is considered more reliable because it is a government agency.
OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 oil-producing countries that jointly decide on production quotas for member countries at meetings held twice a year. Their decisions often influence the prices of WTI crude oil. When OPEC decides to cut quotas, it can tighten supply, which will push up oil prices. OPEC increasing production has the opposite effect. OPEC+ refers to an expanded group that includes ten additional non-OPEC members, the most notable of which is Russia.
