OIL PRICES CLOSE UP AFTER TRUMP SAYS CEASEFIRE WITH IRAN IS OVER — HIGHEST LEVELS SINCE JUNE 22
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“OIL PRICES CLOSE UP AFTER TRUMP SAYS CEASEFIRE WITH IRAN IS OVER — HIGHEST LEVELS SINCE JUNE 22”
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Egypt & Iran have had no formal diplomatic ties since 1980!
Egypt severed relations with Iran after granting asylum to deposed Shah Mohammad Reza Pahlavi and signing the Camp David Accords with Israel. Their embassies have remained closed for over 40 years.
Iran produces ~3.2M barrels/day, making it a key market mover
When U.S.-Iran tensions spike, global oil markets surge on supply fears — it's happened repeatedly since 1979. Track oil markets at Reuters