Yahoo Finance published this video item, entitled “Oil prices tick up after Iran seizes Iraqi oil vessel” – below is their description.
Oil prices (CL=F, BZ=F) move higher after Iran reportedly seized a vessel carrying Iraqi oil that was heading toward Turkey. Iran state media reported: “After the theft of Iranian oil by the United States last year, St. Nikolas tanker was seized by Iran’s Navy this morning with a judicial order … it is en route to Iranian ports.”
In response to the seizure, White House National Security Spokesperson John Kirby said there’s “no justification whatsoever to seize it, none whatsoever. They need to let it go.”
Yahoo Finance Reporter Ines Ferré joins the Live show to discuss what it means for the price of oil and geopolitical tensions, also discussing the impact of the deal between Chesapeake Energy (CHK) and Southwestern Energy (SWN) on US natural gas production.
#oilprices #youtube #oil
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Iran, also called Persia, officially the Islamic Republic of Iran, is a country in Western Asia. Its central location in Eurasia and proximity to the Strait of Hormuz give it significant geostrategic importance. Tehran is the capital and largest city.
Iran is home to one of the world’s oldest civilizations, beginning with the formation of the Elamite kingdoms in the fourth millennium BC. The Iranian Revolution established the current Islamic Republic in 1979.
Iran’s political system combines elements of a presidential democracy and an Islamic theocracy. Iran is a founding member of the UN, ECO, OIC, and OPEC. It is a major regional and middle power and has large reserves of fossil fuels — including the world’s largest natural gas supply and the third largest proven oil reserves.
The country’s rich cultural legacy is reflected in part by its 22 UNESCO World Heritage Sites. Historically a multi-ethnic country, Iran remains a pluralistic society comprising numerous ethnic, linguistic, and religious groups, the largest being Persians, Azeris, Kurds, Mazandaranis and Lurs.
TikTok, known in China as Douyin, is a Chinese video-sharing social networking service owned by ByteDance, a Beijing-based Internet technology company founded in 2012 by Zhang Yiming. It is used to create short music, lip-sync, dance, comedy and talent videos of 3 to 15 seconds, and short looping videos of 3 to 60 seconds.
ByteDance first launched Douyin for the Chinese market in September 2016. Later, TikTok was launched in 2017 for iOS and Android in most markets outside of mainland China; however, it only became available worldwide, including the United States, after merging with another Chinese social media service Musical.ly on 2 August 2018.
Turkey, officially the Republic of Turkey, is a transcontinental country located mainly on the Anatolian Peninsula in Western Asia, with a smaller portion on the Balkan Peninsula in Southeastern Europe.
Istanbul, which straddles Europe and Asia, is the country’s largest city, while Ankara is the capital. The majority of the population identifies as Turkish, around 20% identify as Kurdish.
The United States is a country also known as the United States of America, USA, US or just America. There are fifty states in the union, which is a federal republic ruled by a representative democracy. Nearly ten million square kilometres are inhabited by over 300 million people. The majority of Americans speak English.
