Geithner: Saudi oil move a 'constructive signal'

By REUTERS
March 20, 2012 16:47

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user uxperience almost completely free of ads
  • Access to our Premium Section and our monthly magazine to learn Hebrew, Ivrit
  • Content from the award-winning Jerusalem Repor
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

WASHINGTON - The Obama administration on Tuesday welcomed Saudi Arabia's decision to fill any oil supply gap created by the loss of Iranian oil.

"I want to welcome very much the statements made by the Saudi authorities over the last couple of days that they will take further action to increase the supply of oil in global markets," US Treasury Secretary Timothy Geithner said.

"A very constructive signal," he told a US House of Representatives Financial Services Committee hearing to examine the state of the global financial system.

Pending US sanctions and a European oil embargo on Iranian oil have pushed the price of crude above $120 a barrel. Western sanctions are aimed at cutting Iran off from the global financial system in an attempt to curb its nuclear ambitions.

Related Content

Breaking news
July 16, 2018
EU's Tusk calls on China, US, Russia not to start trade wars

By REUTERS