Possible relaxation of US sanctions against Tehran is pushing Brent and American crude more than 2% lower
Falling more than $ 1 The barrel is recorded by oil prices on Thursday, amid expectations for a possible US nuclear deal with Iran.
The unexpected increase in US reserves has also contributed to the reduction in crude prices last week, which raised investors’ concerns about potential fuel over -supply.
The Brent oil -type contract for the next month is falling by $ 1.44 or 2.18% and is moving to $ 64.65 a barrel.
Similarly, the US -type TEXAS Intermediate (WTI), tradition in June, also declines by $ 1.41 or 2.23% and stands at $ 61.74 a barrel.
The contracts of both fell slightly on Wednesday after the announcement of US crude stock data, which showed an unexpected increase of 3.5 million barrels a week on May 9th. This development has raised concerns about possible market over -market, pushing prices lower.
However, a catalytic role in further declining prices was played by a statement by a senior Iranian official that Tehran is willing to reach an agreement with the US for its nuclear program in exchange for the removal of US sanctions against the Islamic Republic.
Such an agreement triggered hopes for relaxing the global balance of supply and crude demand.
Source: Skai
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