Oil prices rise on fears of escalation in the Middle East

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Oil prices rose sharply on Wednesday after the US Defense Department authorized members of the service in parts of the Middle East to leave the region.

Brent raw, international oil Marker jumped more than 4 percent of its level level on Tuesday to $ 69.73 a barrel in the afternoon trading in New York. The American standard in West Texas has gathered with a similar amount of its highest levels since April.

The high prices of crude came after geopolitical concerns disturbed the global commodity market. “It is clear that the raw reaction with the news that comes out of the Middle East,” said one of the London -based oil mediators.

Defense Minister Beit Higseth authorized the voluntary departure of military transgives throughout The Middle EastAccording to the US defense official.

The official said: “The safety and security of our service personnel and their families are still the highest of our priority, and the US Central Command (Centcom) monitors developing tension in the Middle East.” Centcom is responsible for military operations throughout the region.

A Foreign Ministry official said that the United States chose to “reduce the imprint of our mission in Iraq,” noting that it “constantly residing in the position of the appropriate employees in all of our embassies.”

“It has been aware of the increase in tensions within the region, which may lead to an escalation of military activity with a direct impact on the sailors,” said the Royal Maritime Trade Office in Britain.

It was not clear what caused the United States to be frightened from the military healing to voluntarily leave the region. A UK government official said he did not follow the US leadership of its private forces in the region, but he was maintaining his position under review.

Jorge Montek, ONYX Capital, a liquidity of oil derivatives, said on Wednesday that “an exaggerated reaction shows that the market is short and anxious.” The “short” position is a bet that the oil will fall.

Trump administration in the middle Indirect talks with Iran In an attempt to secure an agreement to curb the wide nuclear program in Tehran and resolve a long confrontation with the Islamic Republic.

Iran has negatively responded to an American proposal to obtain a temporary agreement, as President Donald Trump is pushing the Islamic Republic to abandon the local enrichment program.

Tehran, who said it would make a fight to combat, insists that a red line, saying that he had the right to enrich uranium as a signature of the non -spread treaty.

On Wednesday, Trump told the New York Post that he was “the lowest confidence in an agreement”, although he repeated that this preferred an agreement over military action.

The Iranian Foreign Ministry said this week that there will be the sixth round of the talks on Sunday, although this was not confirmed by the United States or Amman, which facilitates the talks.

But US officials warn that if diplomacy fails, Washington will consider military options to prevent Iran from obtaining a nuclear weapon. Meanwhile, Israel was pushing for military action against Iran, believing that the Islamic Republic was the most vulnerable for decades and has a window for a strike.

Iranian Defense Minister Aziz Nasserzadeh told reporters on Wednesday that Tehran will target American military origins in the region in response to any “without hesitation” attack.

“If a struggle is imposed on us … all American bases are within our reach and we will aim them without hesitation in the host countries,” Nasser said.

However, Western diplomats say Tehran is keen to avoid military conflict and wants negotiations to succeed so that it can secure sanctions to strengthen the besieged economy.

Hillima Koftt, a former CIA analyst at RBC Capital Markets, said the increasing geopolitical tensions were a special concern since Trump’s deadline for 60 days to reach a nuclear agreement with Iran was scheduled to end on Thursday.

“Although it is not complete, these decisions are not usually taken lightly and usually involved a great review of intelligence. This raises the ghost of the increasing threat environment in the region.”

Participated in additional reports from Jay Chazan in New York, Najem Bozorerger in Tehran and David Shepard in London