Oil slides after Iran claims US offered to remove sanctions, but State Department denies

cnbc ^ | 9/27/2019 | yun li

[RummyChick]

Oil slide after Iranian President Hassan Rouhani claimed on Friday the U.S. offered to remove all sanctions on Iran in exchange for negotiations. The State Department later denied those claims, causing oil to rebound from the lows

WTI crude futures were last lower by 2% to $55.27 following the report after falling as low as $54.79. Brent crude futures fell 1.9% to $60.59.

“The German chancellor, the prime minister of England (Britain) and the president of France were in New York and all insisted that this meeting take place. And America says that it will lift the sanctions,” Rouhani said on his official website, according to Reuters. “It was up for debate what sanctions will be lifted and they had said clearly that we will lift all sanctions.”

“But this action wasn’t in a manner that was acceptable, meaning that in the atmosphere of sanctions and the existence of sanctions and the toxic atmosphere of maximum pressure, even if we want to negotiate with the Americans in the 5+1 framework, no one can predict what the end and result of this negotiation will be,” Rouhani added.

The State Department called the report “baseless,” adding that the U.S. is committed to zero oil exports from Iranian regime, Bloomberg News said.

[RummyChick]

Kerberos007 Retweeted
First Squawk
@FirstSquawk
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TRUMP TWEETS: IRAN WANTED ME TO LIFT THE SANCTIONS IMPOSED ON THEM IN ORDER TO MEET. I SAID, OF COURSE, NO!

[sanjuanbob]

Fear that Iran will see to it that oil prices skyrocket, thereby assisting dems sick impeachment hearings. Wouldn’t be surprised if.................................!

[ptsal]

Gee whiz... How many investors were on the other side of this market movement.

How to create foreign exchange in a heartbeat. No need to move tanker ships through dangerous waters. Just manipulate the market.