Iran tells Trump: Stop tweeting, it’s driving up oil prices

A offshore worker climbs a staircase aboard the Chevron Corp. Jack/St. Malo deepwater oil platform in the Gulf of Mexico off the coast of Louisiana, U.S., on Friday, May 18, 2018. While U.S. shale production has been dominating markets, a quiet revolution has been taking place offshore. The combination of new technology and smarter design will end much of the overspending that's made large troves of subsea oil barely profitable to produce, industry executives say. Photographer: Luke Sharrett/Bloomberg
A offshore worker climbs a staircase aboard the Chevron Corp. Jack/St. Malo deepwater oil platform in the Gulf of Mexico off the coast of Louisiana, U.S., on Friday, May 18, 2018. While U.S. shale production has been dominating markets, a quiet revolution has been taking place offshore. The combination of new technology and smarter design will end much of the overspending that's made large troves of subsea oil barely profitable to produce, industry executives say. Photographer: Luke Sharrett/Bloomberg

The war of words over oil prices continues between U.S. President Donald Trump and Iran, and the latest salvo from Iran is for Trump to stop tweeting.

“Your tweets have driven the prices up by at least $10 per barrel,” Iran’s OPEC governor Hossein Kazempour Ardebili said in a message to Trump, carried by Iranian Oil Ministry’s Shana news service. “Pls stop it, otherwise it will go even higher!”

Trump tweeted yesterday that Organization of Petroleum Exporting Countries is “doing little to help” reduce gasoline costs and “if anything, they are driving prices higher.” Despite the key member Saudi Arabia is affirming that the group and its allies will boost output, Goldman Sachs Group Inc. warned that oil is likely to lead a new rally as the market faces significant supply risks from Venezuela to Iran.

”You are hammering on good guys in OPEC,” Kazempour said. ”You are actually discrediting them and undermining their sovereignty, we expect you to be more polite.”

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