NPA Boss: Trump Comment Shows How Politics Moves Oil Prices (Markets Watching Iran Crisis Closely)
Godwin Edudzi Tameklo, the Chief Executive Officer of the National Petroleum Authority, said that changes in the world can quickly affect the price of oil around the world. He wrote on Facebook on March 10 that crude prices fell from $110 to $93 after Donald Trump said the war in Iran was over. Tameklo said that the comment shows how political statements can change how the market works. He also said that energy markets react quickly to news about how conflicts will be resolved and how stable supplies will be. He went on to say that prices could change again depending on what happens in the Middle East, and that traders and policymakers are keeping a close eye on the situation.
