New penalties to Iranian oil exports and aggressive comments on the matter from the US Treasury are increasing concerns about bidding
Over 3% earnings priced oil Thursday as the US imposed new sanctions to limit Iranian oil exports, increasing concerns about the offer.
In particular, June’s Brent Brent is profiting 3.23% at $ 67.97 a barrel while the May of May Crude WTI of May Delivery earns 3.55% at $ 64.67 a barrel.
It is noted that both contracts have made profits of more than 2% on Wednesday, at their highest levels from April 3, and are on track for their first weekly rise for three weeks.
New penalties to Iranian oil exports and aggressive comments on the issue from the US Treasury are increasing concerns about offering and contributing to rising oil, said UBS analyst Giovanni Staunovo.
The sanctions announced by US President Donald Trump’s government on Wednesdays are increasing pressure on Tehran amid talks on the country’s escalating nuclear program.
Strengthening concerns about the offer, Opec said on Wednesday that it had received updated plans from Iraq, Kazakhstan and other countries to make further production cuts.
Source: Skai
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