Oil slipped to around $63 a barrel on Tuesday as concerns faded for now that rising tensions in the Middle East would escalate and hit oil supplies, compounding the impact of a weaker demand outlook.

Iran's capture of a British oil tanker late last week sparked concern about supply disruptions in the Strait of Hormuz, through which about a fifth of the world's supply flows. Crude rose more than 1% on Monday.

On Tuesday, Brent crude fell 40 cents to $62.86 a barrel by 1052 GMT. US&nbsp;West Texas Intermediate crude slipped 20 cents to $56.02.

"The response of oil prices to the seizure of a British oil tanker by armed Iranian forces near the Strait of Hormuz has been amazingly muted so far," said Carsten Fritsch, an analyst at Commerzbank.

"It appears that the majority of market participants are convinced that there will be no open conflict between the West and Iran."

The tensions come as the United States aims to cut off Iran's oil exports and against the backdrop of supply cuts led by the Organization of the Petroleum Exporting Countries since the start of the year to prop up prices.

As part of that plan, the United States has sanctioned Chinese state-run energy company Zhuhai Zhenrong Co Ltd for allegedly violating restrictions imposed on Iran's oil sector.

But due to strong growth in supply from the United States and other non-OPEC producers, oil supply is exceeding demand, according to the International

A weaker outlook for oil demand due to slowing economic growth has weighed on prices, which are still up by 18% in 2019 helped by the OPEC-led Energy Agency, despite lower Iranian exports and OPEC's voluntary supply curbs supply pact.

"Although prices had been driven by supply developments in the first half of the year economic considerations are making oil bulls careful this month," said Tamas Varga of oil broker PVM.

Goldman Sachs on Sunday lowered its 2019 oil demand projection, joining other forecasters such as the IEA and OPEC in trimming its outlook for fuel use.

Oil may gain further support from expectations of another drop in US&nbsp;crude inventories in weekly reports due later on Tuesday and on Wednesday. Analysts expect a 3.4 million-barrel drop in crude stocks.

The American Petroleum Institute, an industry group, releases its inventory report at 2030 GMT.

Oil slipped to around $63 a barrel on Tuesday as concerns faded for now that rising tensions in the Middle East would escalate and hit oil supplies, compounding the impact of a weaker demand outlook.

Oil slipped to around $63 a barrel on Tuesday as concerns faded for now that rising tensions in the Middle East would escalate and hit oil supplies, compounding the impact of a weaker demand outlook. Iran's capture of a British oil tanker late last week sparked concern about supply disruptions in the Strait of Hormuz, through which about a fifth of the world's supply flows. Crude rose more than 1% on Monday. On Tuesday, Brent crude fell 40 cents to $62.86 a barrel by 1052 GMT. US West Texas Intermediate crude slipped 20 cents to $56.02. "The response of oil prices to the seizure of a British oil tanker by armed Iranian forces near the Strait of Hormuz has been amazingly muted so far," said Carsten Fritsch, an analyst at Commerzbank. "It appears that the majority of market participants are convinced that there will be no open conflict between the West and Iran." The tensions come as the United States aims to cut off Iran's oil exports and against the backdrop of supply cuts led by the Organization of the Petroleum Exporting Countries since the start of the year to prop up prices. As part of that plan, the United States has sanctioned Chinese state-run energy company Zhuhai Zhenrong Co Ltd for allegedly violating restrictions imposed on Iran's oil sector. But due to strong growth in supply from the United States and other non-OPEC producers, oil supply is exceeding demand, according to the International A weaker outlook for oil demand due to slowing economic growth has weighed on prices, which are still up by 18% in 2019 helped by the OPEC-led Energy Agency, despite lower Iranian exports and OPEC's voluntary supply curbs supply pact. "Although prices had been driven by supply developments in the first half of the year economic considerations are making oil bulls careful this month," said Tamas Varga of oil broker PVM. Goldman Sachs on Sunday lowered its 2019 oil demand projection, joining other forecasters such as the IEA and OPEC in trimming its outlook for fuel use. Oil may gain further support from expectations of another drop in US crude inventories in weekly reports due later on Tuesday and on Wednesday. Analysts expect a 3.4 million-barrel drop in crude stocks. The American Petroleum Institute, an industry group, releases its inventory report at 2030 GMT.

Oil slips to around $63 as Iran concerns fades for now

Tropical <a href="https://www.wionews.com/business-economy/oil-prices-rise-over-storm-barry-middle-east-tensions-235170">storm Barry</a> could strengthen into a hurricane by Friday night or early Saturday when the centre is near the coast of Louisiana, the <a href="https://www.wionews.com/world/united-states-attorney-general-william-barr-recuses-himself-from-boeing-737-max-probe-justice-department-235216">US</a> National Hurricane Center (NHC) said.

The storm, about 140 miles (220 km) southeast of Morgan City, <a href="https://www.wionews.com/world/heavy-rains-flood-new-orleans-streets-forecasters-predict-hurricane-234833">Louisiana</a>, is packing maximum sustained winds of 50 miles per hour (85 km per hour), the NHC said.

"Dangerous storm surge, heavy rains, and wind conditions are expected across the north-central Gulf Coast," the Miami-based weather forecaster added.

Meteorologists predicted between 10 and 20 inches (25-50 cm) of rain along much of the Gulf Coast on Friday and Saturday.

Watch Video:

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/storm-barry-bears-down-on-new-orleans-with-extreme-rainfall-flooding-risk-235208/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

New Orleans Mayor LaToya Cantrell warned that 48 hours of heavy rain could overwhelm pumps designed to purge streets and storm drains of excess water in the low-lying city.

A tropical storm warning was posted on Thursday afternoon for metropolitan New Orleans, and a hurricane warning for a stretch of the Louisiana coast south of the city. The weather service later reported winds increasing to 45 mph (72 kph), with higher gusts.

The storm swiftly disrupted oil and gas operations along the Gulf, as energy companies halted production on more than half of the region's petroleum output and evacuated nearly 200 offshore facilities and a coastal refinery.

With the brunt of the storm expected to skirt the western edge of New Orleans instead of making a direct hit, city officials ordered evacuations.

Tropical storm Barry could strengthen into a hurricane by Friday night or early Saturday when the centre is near the coast of Louisiana, the US National Hurricane Center (NHC) said.

Tropical storm Barry could strengthen into a hurricane by Friday night or early Saturday when the centre is near the coast of Louisiana, the US National Hurricane Center (NHC) said. The storm, about 140 miles (220 km) southeast of Morgan City, Louisiana, is packing maximum sustained winds of 50 miles per hour (85 km per hour), the NHC said. "Dangerous storm surge, heavy rains, and wind conditions are expected across the north-central Gulf Coast," the Miami-based weather forecaster added. Meteorologists predicted between 10 and 20 inches (25-50 cm) of rain along much of the Gulf Coast on Friday and Saturday. Watch Video: New Orleans Mayor LaToya Cantrell warned that 48 hours of heavy rain could overwhelm pumps designed to purge streets and storm drains of excess water in the low-lying city. A tropical storm warning was posted on Thursday afternoon for metropolitan New Orleans, and a hurricane warning for a stretch of the Louisiana coast south of the city. The weather service later reported winds increasing to 45 mph (72 kph), with higher gusts. The storm swiftly disrupted oil and gas operations along the Gulf, as energy companies halted production on more than half of the region's petroleum output and evacuated nearly 200 offshore facilities and a coastal refinery. With the brunt of the storm expected to skirt the western edge of New Orleans instead of making a direct hit, city officials ordered evacuations.

Tropical Storm Barry to hit Louisiana may develop into hurricane: US weather forecaster

President Andres Manuel Lopez Obrador on Sunday formally <a href="https://www.wionews.com/world/mexico-says-national-guard-deployment-to-southern-border-starts-on-wednesday-226694">inaugurated the National Guard</a>, a militarized police force aimed at cracking down on the country's growing crime rate and securing its borders.

Lopez Obrador said that the initial 70,000 members would be deployed to 150 regions across Mexico, and eventually, 150,000 personnel will cover most of the country.

The leftist president, who took office in December 2018, had long criticized the use of soldiers in the crackdown on violent cartels.

The National Guard, however, is made up mainly of former soldiers and has a military leadership. Critics say its personnel is not properly trained to handle civilian tasks.

Although the force was formally inaugurated on Sunday, National Guard members have been deployed since May to hot spots across the country.

In late June, under US pressure, more than 21,000 National Guard personnel were sent to <a href="https://www.wionews.com/opinions/thousands-of-asylum-seekers-left-waiting-at-the-us-mexico-border-228198">Mexico's northern and southern borders to halt Central American migrants</a> seeking to illegally enter the United States.

Defense Secretary Luis Cresencio Sandoval said that National Guard members have been trained in police procedures, will respect human rights, and will use force in a "reasoned and proportional" manner.

Maintaining peace and security is Lopez Obrador's biggest challenge: there was a record of 33,341 homicides in Mexico in 2018, the highest number of deaths since the government began tracking murders in 1997.

More than 250,000 people have been murdered since 2006, the year Mexico's military was deployed to combat the cartels. More than 40,000 people have vanished during that same period.

President Andres Manuel Lopez Obrador on Sunday formally inaugurated the National Guard, a militarized police force aimed at cracking down on the country's growing crime rate and securing its borders.

President Andres Manuel Lopez Obrador on Sunday formally inaugurated the National Guard, a militarized police force aimed at cracking down on the country's growing crime rate and securing its borders. Lopez Obrador said that the initial 70,000 members would be deployed to 150 regions across Mexico, and eventually, 150,000 personnel will cover most of the country. The leftist president, who took office in December 2018, had long criticized the use of soldiers in the crackdown on violent cartels. The National Guard, however, is made up mainly of former soldiers and has a military leadership. Critics say its personnel is not properly trained to handle civilian tasks. Although the force was formally inaugurated on Sunday, National Guard members have been deployed since May to hot spots across the country. In late June, under US pressure, more than 21,000 National Guard personnel were sent to Mexico's northern and southern borders to halt Central American migrants seeking to illegally enter the United States. Defense Secretary Luis Cresencio Sandoval said that National Guard members have been trained in police procedures, will respect human rights, and will use force in a "reasoned and proportional" manner. Maintaining peace and security is Lopez Obrador's biggest challenge: there was a record of 33,341 homicides in Mexico in 2018, the highest number of deaths since the government began tracking murders in 1997. More than 250,000 people have been murdered since 2006, the year Mexico's military was deployed to combat the cartels. More than 40,000 people have vanished during that same period.

Mexico inaugurates its new National Guard force

<a href="https://www.wionews.com/business-economy/gold-prices-subdued-on-firmer-dollar-fed-meeting-in-focus-227905">Gold prices</a> rose on Monday, shaking off early losses to consolidate above the $1,400 pivot, as focus shifted to global growth concerns and interest rate cuts by major central banks.

Spot gold was up 0.5% at $1,406.79 per ounce, as of 0721 GMT. US &nbsp;gold futures climbed 0.6% to $1,408.90 an ounce.

Also helping gold, the dollar eased from multi-week highs and global stock markets were in red, helping the metal reverse course following a more than 1% fall on Friday after strong US jobs data lowered the likelihood of an aggressive rate cut by the US Federal Reserve.

"Despite the strong (US jobs) numbers, the market is expecting a rate cut, just not as aggressive it would have been. We are still in a rate easing cycle right now," said Howie Lee, an economist at OCBC Bank.

"Additionally, $1,400 is a pretty strong support level for gold. Also, growth remains weak globally and we have geopolitical tension between the <a href="https://www.wionews.com/opinions/us-iran-tensions-and-why-india-needs-to-step-up-its-game-230035">US and Iran</a>. Overall factors are still supportive of higher gold prices," he added.

US non-farm payrolls rebounded in June to 224,000, the most in five months, data showed on Friday, beating economists' consensus estimate of 160,000.

Fed Chairman Jerome Powell is expected to provide further cues on the near-term outlook for monetary policy this week at his semi-annual testimony to the US Congress on the economy.

However, persistent moderate wage gains and mounting evidence the economy was losing momentum could still encourage the Fed to cut interest rates this month.

A rate cut by the Fed could also prompt China's central bank to cut its benchmark policy rate for the first time in four years to support the slowing economy, analysts say.

Lower interest rates would support gold because they reduce the opportunity cost of holding non-yielding bullion.

Also on investors' radar is US-Iran tensions, with Tehran saying on Sunday it will shortly boost its uranium enrichment above a cap set by a landmark 2015 nuclear deal, prompting a warning 'to be careful' from US President Donald Trump.

Meanwhile, holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.18% to 796.97 tonnes on Friday from 798.44 tonnes on Wednesday.

On the technical front, spot gold may retest a resistance at $1,439 per ounce and as long as the metal stays above the support at $1,387, it may resume its uptrend towards $1,497, according to Reuters technical analyst Wang Tao.

Among other precious metals, silver gained 0.6% to $15.06 per ounce, while palladium dipped 0.3% to $1,562.41.

Platinum rose 0.7% to $809.26, edging away from a more than one-week low touched in the previous session.

Gold prices rose on Monday, shaking off early losses to consolidate above the $1,400 pivot, as focus shifted to global growth concerns and interest rate cuts by major central banks.

Gold prices rose on Monday, shaking off early losses to consolidate above the $1,400 pivot, as focus shifted to global growth concerns and interest rate cuts by major central banks. Spot gold was up 0.5% at $1,406.79 per ounce, as of 0721 GMT. US gold futures climbed 0.6% to $1,408.90 an ounce. Also helping gold, the dollar eased from multi-week highs and global stock markets were in red, helping the metal reverse course following a more than 1% fall on Friday after strong US jobs data lowered the likelihood of an aggressive rate cut by the US Federal Reserve. "Despite the strong (US jobs) numbers, the market is expecting a rate cut, just not as aggressive it would have been. We are still in a rate easing cycle right now," said Howie Lee, an economist at OCBC Bank. "Additionally, $1,400 is a pretty strong support level for gold. Also, growth remains weak globally and we have geopolitical tension between the US and Iran. Overall factors are still supportive of higher gold prices," he added. US non-farm payrolls rebounded in June to 224,000, the most in five months, data showed on Friday, beating economists' consensus estimate of 160,000. Fed Chairman Jerome Powell is expected to provide further cues on the near-term outlook for monetary policy this week at his semi-annual testimony to the US Congress on the economy. However, persistent moderate wage gains and mounting evidence the economy was losing momentum could still encourage the Fed to cut interest rates this month. A rate cut by the Fed could also prompt China's central bank to cut its benchmark policy rate for the first time in four years to support the slowing economy, analysts say. Lower interest rates would support gold because they reduce the opportunity cost of holding non-yielding bullion. Also on investors' radar is US-Iran tensions, with Tehran saying on Sunday it will shortly boost its uranium enrichment above a cap set by a landmark 2015 nuclear deal, prompting a warning 'to be careful' from US President Donald Trump. Meanwhile, holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.18% to 796.97 tonnes on Friday from 798.44 tonnes on Wednesday. On the technical front, spot gold may retest a resistance at $1,439 per ounce and as long as the metal stays above the support at $1,387, it may resume its uptrend towards $1,497, according to Reuters technical analyst Wang Tao. Among other precious metals, silver gained 0.6% to $15.06 per ounce, while palladium dipped 0.3% to $1,562.41. Platinum rose 0.7% to $809.26, edging away from a more than one-week low touched in the previous session.

Gold rises as focus returns to growth concerns, Fed rate cut

When <a href="https://www.wionews.com/entertainment/vladimir-putin-replies-to-elton-johns-hypocrisy-comment-231519">Vladimir Putin</a> announced at the weekend that OPEC would extend oil production cuts, broadcasting a deal before the group had even met to approve it, the move angered some member nations.

They were dismayed at the leading role non-OPEC Russia, once seen as the group's rival in oil markets, was playing in shaping the group's policies.

But reality soon set in, and the acceptance that Moscow could help OPEC in its goal of propping up oil prices at a time when it is facing intensifying heat on another front: from US President <a href="https://www.wionews.com/world/donald-trump-angry-about-khashoggi-murder-but-says-no-one-blames-crown-prince-mohammed-bin-salman-231433">Donald Trump</a>.

Trump is putting unprecedented pressure on OPEC and its de-facto leader Saudi Arabia, demanding they pump more crude to drive down fuel prices - a key domestic issue for him as he seeks re-election next year.

Iranian Oil Minister Bijan Zanganeh initially expressed outrage about Russian President Putin's pre-announcement of the extended output cuts.

"OPEC is going to die with these processes," he declared on Monday morning before OPEC oil ministers met to effectively rubber-stamp a done deal, bemoaning the Russia-Saudi dominance of the group's affairs.

But by Monday evening, he had thrown his support behind the deal: "The meeting was good for Iran and we achieved what we wanted."

OPEC and Russia have become unlikely bedfellows, forging an "OPEC+" alliance to reduce global crude supply to counter soaring output from the United States and a weakening world economy.

It is a marriage of convenience as both want higher oil prices to shore up their finances, while the alliance could also strengthen OPEC's position in the face of Trump's demands.

"I don't think Russia is calling the shots," said Saudi Energy Minister Khalid al-Falih when asked if Putin was now OPEC's boss. "I think Russia's influence is welcome."

Iran's veteran OPEC governor Hossein Kazempour Ardebili concurred, echoing his boss Zanganeh's conciliatory tone.

"Russia is a big player. If it announced something in agreement with the rest of OPEC, this is most welcome," he said. "We are working together."

Iraq, which has overtaken Iran as OPEC's second-largest producer after Saudi Arabia and has taken its market share in Europe and Asia, also said Moscow's rising role was positive.

Such a chorus of approval is a sharp reversal for relations between OPEC and Russia that have been characterised by antipathy and distrust for decades.

Back in 2001, Russia agreed to cut production in tandem with OPEC but never delivered on its pledges and instead raised output. That severely damaged relations and other attempts at cooperation were unsuccessful - until the recent alliance.

In his book "Out of the Desert", former Saudi Oil Minister Ali al Naimi wrote that his 2014 meeting with Russian officials lasted just minutes. Upon learning Russia would not cut output, he gathered his papers and said: "I think the meeting is over."

Changing dynamics

Putin announced on Saturday that he had met Saudi Crown Prince Mohammed bin Salman on the sidelines of a G20 meeting in Osaka and they had agreed to extend the OPEC+ production cuts.

Gary Ross, chief executive of Black Gold Investors, said that even if it was "indelicate" for Saudi Arabia to let Putin announce the deal, it showed the changing oil market dynamics.

"Trump has one interest – low oil prices. Putin wants higher prices," said Ross, a veteran OPEC watcher. "Putin is vitally important for OPEC. And it is still in Russia's best interest to cooperate with OPEC as half its budget comes from energy revenues."

Russia needs prices of $45-50 a barrel to balance its budget and its finances are stretched by U.S. sanctions imposed following its annexation of Crimea. Saudi Arabia needs an even higher price of $80. Benchmark Brent crude is currently in the region of $65 a barrel.

But just as the collaboration could lend Saudi Arabia some support against Trump, who has demanded Riyadh increase oil supply if it wants U.S. military support in its standoff with regional rival Iran, it also gives Putin more than extra revenues.

Good relations with Riyadh, an American ally, bolsters Moscow's clout in the Middle East, helps Putin's campaign in Syria and might even help mend relations with Washington, according to two sources in Russia's delegation to Vienna, where OPEC officials have been meeting.

Highlighting those intersecting roles, Russian Energy Minister Alexander Novak also serves as head of several Russian government commissions on trade and cooperation including with Saudi Arabia, Iran, Turkey and Qatar.

Iran's change in tone, in particular, illustrates the conflicting political and economic pressures it faces.

Tehran's falling production, due to U.S. sanctions reimposed and extended by Trump, has reduced its role within OPEC while increasing those of Saudi Arabia and non-OPEC Russia.

Iran's exports plummeted to 0.3 million barrels per day in June from as much as 2.5 million bpd in April 2018. Oil output in OPEC's exempt nations

But Iran is itself also looking to help from Russia, one of just a few countries that have offered to aid Tehran to counter the sanctions choking its oil trade and hammering its economy.

Two Russian energy industry sources said some work was being done to boost the Iranian economy but talks were slow and difficult, without giving details of the nature of the plans.

When Vladimir Putin announced at the weekend that OPEC would extend oil production cuts, broadcasting a deal before the group had even met to approve it, the move angered some member nations.

When Vladimir Putin announced at the weekend that OPEC would extend oil production cuts, broadcasting a deal before the group had even met to approve it, the move angered some member nations. They were dismayed at the leading role non-OPEC Russia, once seen as the group's rival in oil markets, was playing in shaping the group's policies. But reality soon set in, and the acceptance that Moscow could help OPEC in its goal of propping up oil prices at a time when it is facing intensifying heat on another front: from US President Donald Trump. Trump is putting unprecedented pressure on OPEC and its de-facto leader Saudi Arabia, demanding they pump more crude to drive down fuel prices - a key domestic issue for him as he seeks re-election next year. Iranian Oil Minister Bijan Zanganeh initially expressed outrage about Russian President Putin's pre-announcement of the extended output cuts. "OPEC is going to die with these processes," he declared on Monday morning before OPEC oil ministers met to effectively rubber-stamp a done deal, bemoaning the Russia-Saudi dominance of the group's affairs. But by Monday evening, he had thrown his support behind the deal: "The meeting was good for Iran and we achieved what we wanted." OPEC and Russia have become unlikely bedfellows, forging an "OPEC+" alliance to reduce global crude supply to counter soaring output from the United States and a weakening world economy. It is a marriage of convenience as both want higher oil prices to shore up their finances, while the alliance could also strengthen OPEC's position in the face of Trump's demands. "I don't think Russia is calling the shots," said Saudi Energy Minister Khalid al-Falih when asked if Putin was now OPEC's boss. "I think Russia's influence is welcome." Iran's veteran OPEC governor Hossein Kazempour Ardebili concurred, echoing his boss Zanganeh's conciliatory tone. "Russia is a big player. If it announced something in agreement with the rest of OPEC, this is most welcome," he said. "We are working together." Iraq, which has overtaken Iran as OPEC's second-largest producer after Saudi Arabia and has taken its market share in Europe and Asia, also said Moscow's rising role was positive. Such a chorus of approval is a sharp reversal for relations between OPEC and Russia that have been characterised by antipathy and distrust for decades. Back in 2001, Russia agreed to cut production in tandem with OPEC but never delivered on its pledges and instead raised output. That severely damaged relations and other attempts at cooperation were unsuccessful - until the recent alliance. In his book "Out of the Desert", former Saudi Oil Minister Ali al Naimi wrote that his 2014 meeting with Russian officials lasted just minutes. Upon learning Russia would not cut output, he gathered his papers and said: "I think the meeting is over." Changing dynamics Putin announced on Saturday that he had met Saudi Crown Prince Mohammed bin Salman on the sidelines of a G20 meeting in Osaka and they had agreed to extend the OPEC+ production cuts. Gary Ross, chief executive of Black Gold Investors, said that even if it was "indelicate" for Saudi Arabia to let Putin announce the deal, it showed the changing oil market dynamics. "Trump has one interest – low oil prices. Putin wants higher prices," said Ross, a veteran OPEC watcher. "Putin is vitally important for OPEC. And it is still in Russia's best interest to cooperate with OPEC as half its budget comes from energy revenues." Russia needs prices of $45-50 a barrel to balance its budget and its finances are stretched by U.S. sanctions imposed following its annexation of Crimea. Saudi Arabia needs an even higher price of $80. Benchmark Brent crude is currently in the region of $65 a barrel. But just as the collaboration could lend Saudi Arabia some support against Trump, who has demanded Riyadh increase oil supply if it wants U.S. military support in its standoff with regional rival Iran, it also gives Putin more than extra revenues. Good relations with Riyadh, an American ally, bolsters Moscow's clout in the Middle East, helps Putin's campaign in Syria and might even help mend relations with Washington, according to two sources in Russia's delegation to Vienna, where OPEC officials have been meeting. Highlighting those intersecting roles, Russian Energy Minister Alexander Novak also serves as head of several Russian government commissions on trade and cooperation including with Saudi Arabia, Iran, Turkey and Qatar. Iran's change in tone, in particular, illustrates the conflicting political and economic pressures it faces. Tehran's falling production, due to U.S. sanctions reimposed and extended by Trump, has reduced its role within OPEC while increasing those of Saudi Arabia and non-OPEC Russia. Iran's exports plummeted to 0.3 million barrels per day in June from as much as 2.5 million bpd in April 2018. Oil output in OPEC's exempt nations But Iran is itself also looking to help from Russia, one of just a few countries that have offered to aid Tehran to counter the sanctions choking its oil trade and hammering its economy. Two Russian energy industry sources said some work was being done to boost the Iranian economy but talks were slow and difficult, without giving details of the nature of the plans.

Under pressure from Donald Trump, Organization of the Petroleum Exporting Countries embraces Vladimir Putin

Iran will not negotiate with the United States, Supreme Leader Ayatollah Ali Khamenei said on Wednesday, after President Hassan Rouhani signalled talks with Washington might be possible if sanctions were lifted.

Washington withdrew last year from an<a href="https://www.wionews.com/world/iran-says-does-not-presently-believe-in-mediation-with-us-plays-down-chances-of-a-military-clash-222345"> international nuclear deal</a> signed with Tehran in 2015, and it is ratcheting up sanctions in efforts to shut down Iran's economy by ending its international sales of crude oil.

US President Donald Trump <a href="https://www.wionews.com/world/iran-sees-no-prospect-of-negotiations-with-us-foreign-ministry-222226">condemned the accord</a>, signed by his predecessor Barack Obama, as flawed for not being permanent and for not covering Iran’s ballistic missile programme and role in conflicts around the Middle East.

Trump said on Monday he was hopeful Iran would come to negotiating table to reach a new deal: "I really believe that Iran would like to make a deal ... and I think that's a possibility to happen."

Khamenei was quoted as saying on his website: "We said before that we will not negotiate with America because negotiation has no benefit and carries harm."

Khamenei said Iran had no problems negotiating with Europeans and other countries, but added, "We will not negotiate over the core values of the revolution. We will not negotiate over our military capabilities."

Earlier in the day, Rouhani had taken a more positive stance.

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/donald-trump-officials-brief-a-divided-congress-220623/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

In remarks carried by state television, he said: "Whenever they lift the unjust sanctions and fulfil their commitments and return to the negotiations table, which they left themselves, the door is not closed."

"But our people judge you by your actions, not your words."

Khamenei has the final say in all major policies under Iran's dual system, split between the clerical establishment and the government. He is also the head of the armed forces.

Iranian Foreign Ministry spokesman Abbas Mousavi said on Tuesday that Iran saw no prospect of negotiations with the United States.

Last week the Pentagon announced the deployment of 900 additional troops to the Middle East, and extended the deployment of another 600 service members in the region, describing it as an effort to bolster defences against Iran.

Speaking with reporters en route to Indonesia on Wednesday, acting US Defense Secretary Patrick Shanahan said the additional troops announced last week would be going to Saudi Arabia and Qatar. Without giving details or evidence, Shanahan said that while the Iranian posture had changed recently, the threat remained.

He added that sending military assets into the region, such as deploying bombers, Patriot missiles and accelerating the movement of an aircraft carrier strike group to the Middle East, had helped deter attacks against Americans in Iraq.

US national security adviser John Bolton also said on Wednesday naval mines "almost certainly from Iran" were used to attack oil tankers off the United Arab Emirates this month, and warned Tehran against conducting new operations.

Mousavi dismissed Bolton's remarks as a "ludicrous claim".

Iran will not negotiate with the United States, Supreme Leader Ayatollah Ali Khamenei said on Wednesday, after President Hassan Rouhani signalled talks with Washington might be possible if sanctions were lifted.

Iran will not negotiate with the United States, Supreme Leader Ayatollah Ali Khamenei said on Wednesday, after President Hassan Rouhani signalled talks with Washington might be possible if sanctions were lifted. Washington withdrew last year from an international nuclear deal signed with Tehran in 2015, and it is ratcheting up sanctions in efforts to shut down Iran's economy by ending its international sales of crude oil. US President Donald Trump condemned the accord, signed by his predecessor Barack Obama, as flawed for not being permanent and for not covering Iran’s ballistic missile programme and role in conflicts around the Middle East. Trump said on Monday he was hopeful Iran would come to negotiating table to reach a new deal: "I really believe that Iran would like to make a deal ... and I think that's a possibility to happen." Khamenei was quoted as saying on his website: "We said before that we will not negotiate with America because negotiation has no benefit and carries harm." Khamenei said Iran had no problems negotiating with Europeans and other countries, but added, "We will not negotiate over the core values of the revolution. We will not negotiate over our military capabilities." Earlier in the day, Rouhani had taken a more positive stance. × In remarks carried by state television, he said: "Whenever they lift the unjust sanctions and fulfil their commitments and return to the negotiations table, which they left themselves, the door is not closed." "But our people judge you by your actions, not your words." Khamenei has the final say in all major policies under Iran's dual system, split between the clerical establishment and the government. He is also the head of the armed forces. Iranian Foreign Ministry spokesman Abbas Mousavi said on Tuesday that Iran saw no prospect of negotiations with the United States. Last week the Pentagon announced the deployment of 900 additional troops to the Middle East, and extended the deployment of another 600 service members in the region, describing it as an effort to bolster defences against Iran. Speaking with reporters en route to Indonesia on Wednesday, acting US Defense Secretary Patrick Shanahan said the additional troops announced last week would be going to Saudi Arabia and Qatar. Without giving details or evidence, Shanahan said that while the Iranian posture had changed recently, the threat remained. He added that sending military assets into the region, such as deploying bombers, Patriot missiles and accelerating the movement of an aircraft carrier strike group to the Middle East, had helped deter attacks against Americans in Iraq. US national security adviser John Bolton also said on Wednesday naval mines "almost certainly from Iran" were used to attack oil tankers off the United Arab Emirates this month, and warned Tehran against conducting new operations. Mousavi dismissed Bolton's remarks as a "ludicrous claim".

No negotiations with US, says Iran's Supreme Leader Ayatollah Khamenei

China on Monday said any US trade talks must be based on "mutual respect" and equality after President Donald Trump said there was a good chance of clinching a deal.

"We always believe that any differences between any two countries should, of course, be resolved through friendly negotiations and consultations," Chinese foreign ministry spokesman Lu Kang said at a regular press briefing.

Trump said Monday said there was a "very good" chance of clinching a trade deal with China as the world's top two economies clash over their trade relationship.

"I think sometime in the future, China and the US will have a great trade deal and we look forward to that," Trump said after talks with Japanese Prime Minister Shinzo Abe in Tokyo.

His remarks came just two weeks after trade tensions reignited when Trump more than doubled tariffs on US$ 200 billion worth of Chinese merchandise -- sparking retaliation from Beijing -- and threatened further levies that could affect nearly all of China's remaining exports to the US.&nbsp;

"We have seen different statements being made about the Sino-US economic and trade consultations by (different entities) including high-level people in the US," Lu said.

"Sometimes it is said that an agreement will be reached soon, and sometimes it is said it's difficult to reach an agreement," he said.

The spokesman said that China's position has "remained consistent".

"We have also always insisted on consultations between China and the United States, including economic and trade consultations, which must be based on mutual respect, equality and mutual benefit."

China on Monday said any US trade talks must be based on "mutual respect" and equality after President Donald Trump said there was a good chance of clinching a deal.

China on Monday said any US trade talks must be based on "mutual respect" and equality after President Donald Trump said there was a good chance of clinching a deal. "We always believe that any differences between any two countries should, of course, be resolved through friendly negotiations and consultations," Chinese foreign ministry spokesman Lu Kang said at a regular press briefing. Trump said Monday said there was a "very good" chance of clinching a trade deal with China as the world's top two economies clash over their trade relationship. "I think sometime in the future, China and the US will have a great trade deal and we look forward to that," Trump said after talks with Japanese Prime Minister Shinzo Abe in Tokyo. His remarks came just two weeks after trade tensions reignited when Trump more than doubled tariffs on US$ 200 billion worth of Chinese merchandise -- sparking retaliation from Beijing -- and threatened further levies that could affect nearly all of China's remaining exports to the US. "We have seen different statements being made about the Sino-US economic and trade consultations by (different entities) including high-level people in the US," Lu said. "Sometimes it is said that an agreement will be reached soon, and sometimes it is said it's difficult to reach an agreement," he said. The spokesman said that China's position has "remained consistent". "We have also always insisted on consultations between China and the United States, including economic and trade consultations, which must be based on mutual respect, equality and mutual benefit."

China says any US trade talks must be based on 'mutual respect' 

Actress Doris Day, who became one of the greatest box-office attractions of her time as the cheery, freckle-faced personification of wholesomeness, died on Monday at the age of 97.

Hollywood singer and actress Doris Day dies at 97

united-sates

United Sates, News on United Sates, stories on United Sates, articles on United Sates, United Sates stories at Wion, United Sates news, United Sates latest news

united sates