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Analysts at TD Securities suggest that following OPEC’s refusal to pledge more oil production this weekend, energy traders will be looking towards President Trump’s comments on Iran as world leaders meet at the United Nations this week, in additional to the DOE’s weekly inventory data.

Key Quotes

“Considering this weekend’s attack on Iran’s military parade, we also suspect that the heightened level of tensions could well lead to fiery rhetoric that bolsters crude prices as Iran has also blamed Western powers for the attack.”