Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
The prices of the crude Brent Brent made earnings from the previous session and dropped almost $ 2 on Friday after the White House delayed a decision on the participation of the United States in the Israeli-Iranian conflict, but they were still ready for a third consecutive week in black.
Ilan Rosenberg | Reuters
Oil-term contracts have dropped sharply on Tuesday, while a freshly announced Irano-Israeli ceasefire began to appease investors concerns about the disturbances of supply and expedition in the Middle East rich in oil.
The Ice Brent contract with August Exiry was negotiated at $ 69.76 per barrel at 9:09 am in London, down 2.41% compared to the previous session. The Nymex WTI contract in August in August was $ 66.85 per barrel, 2.42% more on Monday regulations.
Oil prices had added about 10% compared to the start of Irano-Israeli hostilities that have been exacerbated in recent days by the United States direct military participation and the Iran’s reprisals strike against an American base in Qatar. Undo-term contracts followed the continuation of the night’s announcement by the American president Donald Trump of an Iran-Israeli cesspool despite persistent questions about the implementation and the future of the Tehran nuclear program-the main cause of recent hostilities cited by Israel and the United States
According to the monthly report of the market market of the market of the monthly OPEC monthly market, the report of 3.3 million barrels per day, according to the monthly report of the market market of market market of the market of the market of the market of the market of market market of the market of the market of the market of the market of the market of the market of the market market of the market market monthly of OPEC, produced at risk the offensives in Iran – This produced 3.3 million barrels per day of OPEC.
Throughout hostilities, investors also looked if Iran would close the Hormuz Strait connecting the Persian Gulf and the Gulf of Oman – a key route for Iranian expeditions and other means of the Middle EastIncluding those of the largest raw exporter in the world in Saudi Arabia and the United Arab Emirates, Iraq, Kuwait and Bahrain.
On Sunday, the Iranian Parliament approved the closure of the Hormuz Strait, according to a report by Iranian press television that CNBC could not verify independently, although a final decision was based with the country’s National Security Council.
“The potential closure of the Hormuz Strait remains a risk of tail in our opinion, but we maintain that oil prices would pass beyond $ 100 / B in such a scenario, due to limited tracks to bypass the narrow passage and the constraints he would pose to the marketing of spare capacity,” said Barclays analysts in a Tuesday note, just as Trump has announced a tightening ceasefire.
They also added that oil prices were under pressure “because the threat of a wider regional conflagration did not materialize despite the American action against Iranian nuclear sites”.
In the midst of the risk of providing, the International Energy Agency previously reassured that it had 1.2 billion barrels of emergency stocks to which it could use. As part of a strategy decided before the Iran-Israeli climbing, some producers of the influential OPEC + Alliance have also increased production and have additional spare volumes that could be put online.
