Iranian Oil Minister Mohsen Paknejad stressed the risks that armed escalations pose to crude markets, calling for a “principled stand” against the political use of war. Iran was locked in 12 days of missile strikes and hostilities with regional rival Israel in June. Oil markets have been on the watch for potential supply disruptions in both Iran and the broader crude-rich Middle East. Dilara Irem Sancar | Anadolu | Getty Images
Iran’s oil minister on Wednesday criticized the effects of war-led disruptions to oil markets, weeks after Tehran’s 12-day hostilities with Israel sent crude price soaring.
In remarks via videoconference for the OPEC seminar in Vienna, Mohsen Paknejad said, “Whatever the cause, an aggression of war that leads to the disruption of the supply of oil and gas resources to the international market imposes … complications