US President Donald Trump declared Iran’s revolutionary guard as a terrorist organization. The move is part of the Administration’s effort to curb Iran’s power after the US abandoned the nuclear deal, officially known as the JCPOA. The white House announcement states that the Guard promotes and funds terror as part of its policy.
Oil prices advanced on the news. WTI Crude Oil rose above $64 per barrel, the highest since November. Prices of the black gold were already on the rise amid an escalation in hostilities in Libya. Forces led by Khalifa Haftar are closing in on the capital Tripoli, where the internationally recognized government sits.
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