Iran To Defeat America By Overcoming Sanctions – Ayatollah Khamenei

Iran will deliver a slap and defeat America by defeating sanctions, Iranian Supreme Leader Ayatollah Ali Khamenei said in an address broadcast Thursday on state media.

The speech was delivered to tens of thousands of members of the Basij militia and top Revolutionary Guards commanders in a stadium in Tehran.

Brent crude oil prices hit their highest level since November 2014 on Monday ahead of U.S. sanctions against Iran that kick in next month.

Brent sweet crude oil futures rose to as much as 83.27 dollars a barrel.

U.S. West Texas Intermediate (WTI) crude futures were at 73.57 dollars a barrel.

Brent was pushed up by the looming sanctions against Iran, which will start targeting its oil sector from November 4.

U.S. President Donald Trump called Saudi Arabia’s King Salman on Saturday, discussing ways to maintain sufficient supply once Iran’s exports are hit by sanctions.

With oil prices soaring, there are concerns over their inflationary effect on demand growth, especially in Asia’s emerging markets where weakening currencies are further adding to high fuel import costs.

(Reuters/NAN)