Zanganeh's remarks came at the opening of the 4th Iranian Petroleum and Energy Congress in Tehran, Iranian Students' News Agency (ISNA) said.
"The U.S. imposes conditions on the oil market. They actually need it themselves. […] Remove sanctions to fix prices," Zanganeh was quoted as saying in ISNA's report.
The minister, referring to the supply shortage in the market, said that none of the producers could produce more oil. "Saudi Arabia is using its reserves and is currently facing a political challenge," he said, in reference to the disappearance of veteran Saudi journalist Jamal Khashoggi who went missing since he entered the Saudi Consulate in Istanbul on Oct. 2.
In addition to the looming U.S. sanctions against Iran, threatening a fall in global oil supply, the growing tension between Saudi Arabia and the U.S. over the disappearance of Khashoggi, a columnist for the Washington Post, is also impacting the upward price trend in the oil market.
International crude benchmark Brent was trading at $80.61 at 0625GMT on Tuesday while American benchmark West Texas Intermediate (WTI) saw prices of $71.53 per barrel.
-U.S. responsible for oil prices
ISNA quoted the Iranian oil minister as saying that the U.S. was responsible for the rising oil price, as the oil market was affected by U.S. threats against oil-producing countries.
"The oil market is very worried for the future," he added.
On Saturday, U.S. President Donald Trump threatened Riyadh with "severe punishment" if it is found that the veteran journalist has been murdered. Saudi Arabia on Sunday vowed to hit back against threats or sanctions imposed over the disappearance of Khashoggi.
On Monday, Trump said U.S. Secretary of State Mike Pompeo was being dispatched to meet Saudi King Salman about the missing journalist. The State Department confirmed the travel announcement, saying that Pompeo would leave for Riyadh the same day.
"The President has called for a prompt and open investigation into the disappearance of Washington Post journalist Jamal Khashoggi," the department added.
(Anadolu Agency)