Ex-U.S. diplomat: Trump’s policy on Iran drives oil prices up

April 30, 2019 - 22:34

Former U.S. diplomat Michael Springmann says the announcement by the Trump administration that Japanese, Koreans, and Indians have to immediately end all their purchases of oil from Iran is driving prices up. He also quotes famous analyst Pebo Escobar who has said if the Strait of Hormuz in the Persian Gulf is blocked due to a provocative move by the U.S., oil prices will jump to 500 dollars per barrel.