Economy

Oil gains as U.S. crude stocks fall to lowest since Feb

Oil gains as U.S. crude stocks fall to lowest since Feb”

Earlier in Monday's session, the market had risen after President Donald Trump warned of dire consequences for Iran if it threatened the United States.

"We have also invested Rs. 7,600 crore to enhance the capacity of the refinery at Haldia", he said.

Iranian President Hassan Rouhani has dismissed his U.S. counterpart's rhetoric as empty threats, saying they're not worth a reaction.

Iran's IRNA news agency reported on July 25 that, after Rohani mentioned "baseless comments" by "some USA leaders", he told a cabinet meeting "there is no need for us to respond to any nonsensical comment and answer back to them".

As correctly stated in the remarks of our honorable president, the enemies, especially the USA, whose deployment centers and interests are accessed by the Islamic Republic of Iran's overt and covert defense power should not play with lion's tail otherwise they will be given a strong, unimaginable and regretting response at a very vast extent in the region and the world.

He said the "strongest response to their cheap comments" would be "indifference to their plots and choosing to resist and foil their schemes".

In a statement on Tuesday, Major General Baqeri lashed out at the U.S. president for his recent bellicose stances against Iran, saying the Iranian Armed Forces will give devastating response to any threat at any level.

He also said Washington would resume sanctions against Tehran after Trump withdrew in May from a 2015 nuclear deal with the aim of getting Iranian oil imports as close to "zero as possible" by November 4, when the penalties will resume.

On Saturday, Leader of the Islamic Revolution Ayatollah Seyed Ali Khamenei praised Rouhani's firm response to the United States threat to halt Iran's oil exports, saying his significant stances that signify the Establishment's policy must be seriously pursued by the Foreign Ministry.



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