US President Donald Trump continued to defend his reversal of US policy as part of a plan to extricate the United States from “endless” wars in the Middle East.
The United States is imposing new sanctions on certain Chinese entities and people who it accuses of knowingly transferring oil from Iran in violation of Washington’s curbs on Tehran, US Secretary of State Mike Pompeo said on Wednesday.
Billions of dollars spent by Saudi Arabia on cutting edge Western military hardware mainly designed to deter high altitude attacks has proved no match for low-cost drones and cruise missiles used in a strike that crippled its giant oil industry.
Brent crude, the international benchmark, fell 0.96% to $68.39 per barrel on Tuesday. On Monday, it surged 14.6% for its biggest one-day percentage gain since at least 1988.
Iran rejected accusations by the United States that it was behind attacks on Saudi oil plants that risk disrupting world energy supplies.