It was always about the oil?
The Pentagon emphasized Monday that U.S. troops will secure oil fields in northeast Syria in the wake of ISIS leader Abu Bakr al-Baghdadi’s death.
Trump highlighted a potential U.S. energy market opportunity by tapping into Syrian oil.
“What I intend to do, perhaps, is make a deal with an ExxonMobil or one of our great companies to go in there and do it properly…and spread out the wealth,” Trump said, adding that U.S. troops would be tasked with retaining control of the oil facilities.
U.S Dollar Wars – Rosneft Oil Asks Traders to Pay in Euros for Crude
Russia’s oil giant Rosneft tendered a sell of a cargo of crude, asking would-be buyers to pay in euros for the consignment, just weeks after doing the same for refined fuels. – https://www.bloomberg.com
Russian President: We see attempts of using the dollar as the political error. I believe this is one more major mistake, because the dollar enjoyed a lot of confidence globally. This was actually the only universal global currency. The United States started using dollar settlements as a tool in the political struggle for some purpose, imposing restrictions on dollar use and cutting the branch they are sitting on but they will fall with a crash soon,” Putin said.
Crude oil is quoted in U.S. dollars (USD). So, each uptick and downtick in the dollar or in the price of the commodity generates an immediate realignment between the greenback and numerous forex crosses.
Half of Saudi Arabia’s oil industry got taken offline by 1 drone
Yemen’s Houthi group said it attacked two plants at the heart of Saudi Arabia’s oil industry on Saturday, Taking out more than half the Dictatorships output, in a move expected to send oil prices soaring and increase tensions in the Middle East.
After drone attacks shut oil output in Saudi Arabia, the world’s largest crude exporter, a Department of Energy spokeswoman said the Trump administration is prepared to tap U.S. emergency oil reserves if necessary.