Hong Kong: Oil Prices have seen a sharp decline as all eyes are set on the upcoming policy on Iran Nuclear Program.
Oil prices declined in Asia after the tweet of President Donald Trump. He said that today he would take a final decision about imposing sanctions on Iran. In spite of the fact that Trump has been encouraged by world pioneers to keep it set up, there is a general accord that he will decline to protect the 2015 settlement fanning fears of new turmoil in the Middle East.
This alongside a yield top by Russia and OPEC, rising US request and an enhancing economy. It has sent the cost of oil to highs not seen since late 2014. However, benefit taking saw both fundamental contracts withdraw Tuesday.
Global currencies are also affecting as the US Dollar reached its highest price in 2018 against the Euro. In addition, Pakistani Rupee is also facing a strong devaluation against the US Dollar.