US, Iran clash comes to UN, could spill into oil market

[Yo_Mama_Been_Loggin]

With oil bubbling higher, the United Nations this week could provide the next catalyst for prices, with both President Donald Trump and Iranian President Hassan Rouhani each speaking about U.S. sanctions on Iran.

Trump and Rouhani appear separately at the UN General Assembly in New York Tuesday, against the backdrop of already rising oil prices. Trump speaks Tuesday morning and also chairs the UN Security Council Wednesday, where he is expected to also speak about Iran.

On Monday, Brent crude jumped above $81 per barrel for the first time in four years, following a weekend meeting between OPEC ministers and Russia, where it was decided the current output agreement would remain unchanged for now. The severe decline in Venezuelan oil output has exacerbated supply concerns, which are made worse by the coming restrictions on Iranian crude.

"I think there's going to be real headline risk. I don't think Trump pulls a North Korea and tries to extend Rouhani any sort of olive branch," said John Kilduff, partner with Again Capital. "It could push oil prices up because Trump's going to be a pointed reminder of the market that Trump administration policy is maximum pressure."

https://www.msn.com/en-us/money/markets/us-iran-clash-comes-to-un-could-spill-into-oil-market/ar-AAAAQ17?li=BBnbfcN

[Behind the Aegis]

1. Prices in OK rose $.10 in 4 days, and $.20 over the past week and a half.

I wonder if this trend will hold until mid-terms because that will get the low-information, stupid voters to stay home.