The tension in Middle East as there are doubts over Oil gains in Saudi

Hassan Rouhani

Oil prices rose after President Trump, arriving in New York for the meeting of the United Nations General Assembly, said he intended to seek support for a coalition to confront Iran after the U.S. blamed it for last week’s strike on a Saudi Arabian oil facility.

There are also doubts over how fast Saudi Arabia can get back to full output after last weekend’s attack, according to Reuters.

Oil prices rose as high 1 percent to start the week.

U.S. crude oil added 43 cents to $58.53 a barrel, while Brent crude, the international standard, picked up 34 cents to $64.62 per barrel.

Iran’s president on Sunday urged Western powers to leave the security of the Persian Gulf to regional nations led by Tehran.

He criticized a new U.S.-led coalition patrolling the region’s waterways as nationwide parades showcased the Islamic Republic’s military arsenal.

Hassan Rouhani also promised to propose a regional peace plan at this week’s UN meetings.

The U.S. alleges Iran carried out the Sept. 14 attack on Saudi Aramco’s largest oil processor, which caused oil prices to spike by the biggest percentage since the 1991 Gulf War.

While Yemen’s Iranian-allied Houthi rebels claimed the assault, Saudi Arabia says it was “unquestionably sponsored by Iran.”

Shreyas Tanna

About Shreyas Tanna

The winner of Mr. Pune 2009 Pageant, Mr. Shreyas Tanna is currently the young, dashing, and dynamic CEO of a market research company called Research N Reports in Pune. Fondly known as RNR, the company specializes in market research as well as industry analysis, and is closely associated with its parent company Absolute Markets Insights (AMI). Mr. Shreyas Tanna began his corporate journey as the Head of Corporate sales & PR at RED Entertainment while pursuing his degree for MMS (Marketing) from the MGM College of Management, Mumbai. After accomplishing the tedious task of balancing his work and education, he further polished his skills in Corporate Sales, Public Relations, Channel Development, Global Client Engagement, Strategic Consulting, and Brand Development by working with HDFC Life and ResearchMoz Global Pvt. Ltd. His dedication towards his work has even won him accolades such as the National Level Performer 2013 – HDFC Life and Mr. ResearchMoz 2015. A disciplined individual with a loving heart, he is often seen taking crisp walks with an engrossed look and a gentle smile within the premises of his company to interact with the various departments. And he will be usually followed by an adorable trail of his beloved trio of Shih Tzu babies proudly known as Gucci, Drake, and Paris. The most enticing thing that you will notice about this content and proud pet parent is his infectious positivity and the firm belief in his eyes, a reflection of his favorite quote, “LIFE IS BEAUTIFUL!”

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