Oil climbs as Trump warns of tariffs on Russian oil buyers and bombing of Iran [Globe and Mail, The (Toronto, Canada)]
Nomura Holdings Inc ADR American Depositary Shares (NMR)
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Source: Globe and Mail, The
oil and warned Iran of possible military action if it did not agree to a deal over its nuclear program. The more active June Brent crude futures rose 69 cents, or 0.95 per cent, to $73.45 a barrel by 0817 GMT, while U.S. West Texas Intermediate crude climbed 68 cents, or 0.98 per cent, to $70.04 a barrel. Front-month Brent, which was up 76 cents, or 1.03 per cent, at $74.39, expires later on Monday. Both benchmarks were on track to end the month higher. Trump said on Sunday he was “pissed off” at Russian President Vladimir Putin and will impose 25 per cent-50 per cent secondary tariffs on buyers of Russian oil if he feels Moscow is hindering his efforts to end the war in Ukraine. China and India are major buyers of Russian crude and their acquiescence would be crucial to making any secondary sanctions package seriously hurt exports from the world’s second largest oil exporter. Trump also threatened Iran on Sunday with bombing and secondary tariffs if Tehran did not come to an agr
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