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Brent rise to $ 62.9

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Brent rise to $ 62.9
September 11
09:00 2019

At Asian trading, oil growth is rather good despite its decrease on the eve. It should be noted that the fall was caused by the news that John Bolton, security adviser to American President, had been resigned.

As of 8 a.m. Moscow time, Brent crude oil contracts for November (traded on the London Stock Exchange) cost at around $ 62.9. Compared to previous trading, the growth has amounted to 55 cents. There was a decline on Tuesday. Over the day, the quotes have fallen 0.3%; the price stopped at $ 62.4.

By the same time, futures of the American crude oil WTI for October delivery had increased almost half a dollar – up to 57.9 US dollars per barrel. At the last session, oil of this brand lost about 0.8 and stopped at around 57.4 US dollars.

Yesterday, the odious American president announced on Twitter that John Bolton was about to resign. Analysts immediately concluded that the staffing solution would affect the country’s policy towards Iran and Venezuela. It will become softer which can improve the situation with oil supplies from these countries.

The Iranian government (or rather, represented by Rabiya Ali) also reacted to the tweet. Rabiya Ali wrote that Bolton’s retirement would allow the countries to engage in normal dialogue. The adviser was a supporter of the war and economic terrorism. “Now when Bolton retires, the US will have a chance to understand Iran,” Rabiya wrote on Twitter.

Experts believe that the resignation of such a key figure can help reduce tensions between the countries. At the same time, the presence of Iranian oil may increase in the world market. According to some estimates, the volume of oil supplied by Iran may be about 700 thousand b / d.

The quotes were supported by the API data. Last week, fuel inventories in the United States declined by 7.2 million barrels. Official figures from the Ministry of Energy will be made public tonight. Experts believe that they will indicate a decrease in oil reserves of around 2.9 million barrels.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company
UFT Group

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