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Iranian official warns of oil going above $100

Iranian official warns of oil going above $100

Teheran, April 30 - Neftegaz.RU. Chairman of Parliament Energy Commission, Fereydoun Hasanvand warned that oil prices are going to surge above $100 per barrel following the U.S. decision to end the waivers.

"Not extending the oil waivers of some countries is another side of the U.S. measures against Iran. But if Iran's oil is fully sanctioned, oil price will go higher than $100 per barrel," IRIB quoted Hasanvand as saying.

"Trump is struggling to win the next [presidential] elections" in 2020, the official said. He noted that Washington's plans to "take over Venezuela, cause trouble in Libya, and establishing martial law in Sudan" are all intended to boost support for U.S. sanctions against Iran.

Iran has said it may close the Strait of Hormuz if prevented from using the waterway, which links crude producers in the Middle East to markets in Europe, Asia Pacific, North America and beyond.

In a recent interview with Reuters, Foreign Minister Mohammad Javad Zarif said that Iran was “not going to take any action” should the U.S. continue observing the rules of engagement.

Earlier this month, the Trump administration announced it will end waivers on crude purchase granted to Iran's primary oil buyers in a bid to push Tehran oil sales to zero.

The waivers currently issued for China, Greece, India, Italy, Japan, South Korea, Taiwan and Turkey expire on May 2.

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