UAE Minister says not mulling emergency gathering amid Middle East tensions - MarketWatch

The United Arab Emirates's energy minister, Suhail al-Mazroui, said major oil producers do not expect any disruptions to crude supply, and have no current plans for an emergency gathering, The Wall Street Journal and other media outlets reported Wednesday. His comments came after Iran launched missile attacks on Iraq bases housing U.S. troops late Tuesday. "We will not see a war," he told reporters on the sidelines of a conference in Abu Dhabi according to Reuters. "This is definitely an escalation between the United States, which is an ally, and Iran, which is a neighbour, and the last thing we want is more tension in the Middle East." The minister said the cartel stands ready to respond or meet if supply issues arise as a result of tensions between the U.S. and Iran. Oil prices CL00, +0.40% shot higher late Tuesday as news of the missile launches reached markets, but gains pared as that country said it wasn't seeking further escalation. In addition, there were no immediate reports of American casualties.

2020-01-08 07:48:00Z
https://www.marketwatch.com/story/uae-minister-says-not-mulling-emergency-gathering-amid-middle-east-tensions-2020-01-08