Oil continues to fall, while gasoline prices rise in Argentina

Oil continues to fall, while gasoline prices rise in Argentina

While naphtas are rising in Argentina, the barrel of oil touched on Tuesday minimums in seven months in the US, and in London it recorded its lowest value since last August, in reaction to the temporary exemption that the United States government granted to eight importing countries of crude oil from Iran.

The price of WTI crude in New York fell by 1.4% to US $ 62.21, the lowest since April 6, and suffered its seventh consecutive decline.

At the same time, the Brent barrel fell by 1.4% in London to US $ 72.14, the lowest price in almost three months.

The drop of oil in international markets comes after the price of fuel in Argentina rose again earlier this month.

Since the beginning of the year, the price of naphthas in the country has been deregulated and is governed by a combination of the value of the dollar and the barrel of oil, among other costs.

Tuesday's movements in international markets came after the re-imposition of sanctions that Washington had lifted in Tehran with the signing of the 2015 nuclear agreement, affecting 700 individuals, companies and entities, mainly in the energy and financial sectors.

The exemptions to China, India, Italy, Greece, Japan, South Korea, Taiwan and Turkey, which may continue importing Iranian crude temporarily, have eased slightly the fears about a potential supply reduction.

Crude North Sea, a benchmark in Europe, ended the day in the International Exchange Futures with a decrease of US $ 1.02 compared to the last trade, when it closed at US $ 73.16. (Financial sphere)

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