Low oil prices give President Donald Trump more leverage over Iran, U.S. Energy Secretary Chris Wright said Friday, speaking as the two adversaries teeter on the brink of another conflict.
“The world is very well supplied with oil right now, and I think it gives President Trump more leverage in his geopolitical actions to not worry about a crazy spike in oil prices,” Wright told CNBC in an interview when asked about the risk of a supply disruption due to tensions with Iran.
The oil market is closing monitoring tensions in the Middle East for any sign that crude supplies could be disrupted.
U.S. crude oil rose 26 cents, or 0.4%, to close at $63.55…
