– Oil prices reference marks are reduced from highs reached before three years on news of the continued suspension of us sanctions against Iran, according to Dow Jones.
Quotations of March futures for Brent crude on the London ICE Futures exchange to 18:29 Moscow time, has decreased by $0,08 (0,12%) to $69,18 a barrel. Prices of futures contracts for WTI crude oil for February on the new York Mercantile exchange (NYMEX) by this time was down $0,18 (0,28%) to $of 63.62 per barrel.
The President of the United States Donald trump decided for 120 days to renew the suspension of sanctions against Iran as part of the deal in the atom, prisoner of Tehran and the “six” of international mediators. Thus, the us administration is that it intends to comply with the terms of the agreement on Tehran’s nuclear program.
This post eased fears of oil traders of the market about possible supply disruptions that contributed to the recent rally of prices. Since the beginning of this year, WTI rose by 5.5%.
From June 2017, oil prices rose by more than 50% due to OPEC’s decision+ on the restriction of production, and lately – due to the extremely cold weather in the United States and China, as well as protests in Iran.
“Those who are hoping for the end of the bull market, probably should wait a few days before to talk about the end of the rally”, – said analysts of the Energy TAC.
Meanwhile, the partner Again Capital John Kilduff believes that “it becomes much harder to go up from these levels,” writes CNBC.