The cost of Brent oil exceeded $ 80 per barrel

The cost of Brent oil exceeded $ 80 per barrel

Plot: Oil prices. May 2018 (11) MOSCOW, May 17 – RIA Novosti. The cost of Brent oil on Thursday for the first time since November 25, 2014 exceeded the psychological mark of $ 80 per barrel. This is evidenced by the bidding data.
Big mistake: the United States mistakenly struck a blow against the petrodollar As of 13:09 Moscow time, the price of July futures for the North Sea oil blend of Brent brand grew by 0.71% – to 79.84 dollars per barrel. During the auction, it reached $ 80.12. The price of June futures for WTI crude oil rose by 0.83% – to 72.06 dollars per barrel. The jump came after the publication of statistics on the reserves of “black gold” in the US, which are declining for the second consecutive week: commercial inventories declined by 0.3 percent – to 432.4 million barrels, and expected a more moderate decline – by 0.18 percent.
Also, oil prices are rising because of the situation around Iran. On the eve of the French oil company Total reported that it could withdraw from the South Pars 11 project in Iran due to US sanctions.
“Geopolitical fears persist: concern about the supply of oil remains the most important factor for the market after the US decided to withdraw from the agreement with Iran on the nuclear program,” the agency said. Reuters head of research of commodity markets Julius Baer Norbert Rücker.
Last week, the US withdrew from the agreement with Iran on the nuclear program reached in 2015. Donald Trump reported on the restoration of all sanctions against Iran, including secondary ones, that is, with respect to countries that conduct business with Iran.

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