ICE August Brent lagged slightly, settling $2.50 higher at $75.55/b. The premium of Brent crude over US futures narrowed to around $5.21 a barrel on Monday, down from almost $10 a week ago, thanks to the steep drop in the premium of USA coastal grades over the West Texas Intermediate benchmark price.
Despite this, Iranian President Hassan Rouhani on Tuesday blamed the United States for the Islamic Republic's economic woes in a speech televised on state-run TV and said Iran is in a "fight" with the US, suggesting America is trying to damage the country by creating "an economic war".
Germany has accepted 1.6 million Syrians and other migrants since 2014. In Germany, Europe's leading economy and most powerful nation, Chancellor Angela Merkel differs sharply with her Interior Minister, Horst Seehofer, on the latter's call to block migrants already registered in another European Union country from entering Germany.
Trump tweeted . "Their employees and customers are already very angry at them". "There are no [trade] talks planned", European Union trade chief Cecilia Malmström said Tuesday, adding that Harley-Davidson's relocation decision was exactly the type of reaction Europe had been aiming for with its counter-tariffs.
But despite their alignment against the U.S. trade threat, the EU and China remain at odds over issues including the lack of reciprocal access for European firms and the EU's reluctance to endorse China's Belt and Road trade and infrastructure program.
Turkey's foreign minister said on Monday that oppressed people of the world and the Muslim community prayed for President Recep Tayyip Erdogan's election victory. Erdogan, the most popular but also divisive leader in modern Turkish history, argues the new powers will better enable him to tackle the nation's economic problems - the lira has lost 20 percent against the dollar this year - and deal with Kurdish rebels in southeast Turkey and in neighboring Iraq and Syria.