He touched his highest level in more than two months, after reports that the US prepares to evacuate his Iraqi embassy due to the growing concern for security in the Middle East.
Oil prices climbed up to 5% this Wednesday, at its highest level in more than two months, After reports that the United States prepares to evacuate its Iraqi embassy due to the growing concern for security in the Middle East.
The futures of crude Brent rebounded US $ 2,90, or 4.3%, au $ 69.77 per barrel, While American crude West Texas Intermediate climbed US $ 3,17, or 4.9%, Au $ S68.15. Both Brent and WTI They reached their highest level in more than two months.
The United States was preparing to evacuate its Iraqi embassy due to the growing security risks in the region, Fuentes reported Wednesday, while an American official indicated that military relatives could also leave Baréin. “The market did not expect this great geopolitical risk,” said Phil Flynn, Price Futures Group analyst.
Iraq is the second largest producer of the OPEC, after Saudi Arabia. Iranian defense minister Aziz Nasirzadeh said Wednesday that Tehran will attack US bases in the region if nuclear negotiations fail and there is a conflict with Washington.
The president of the United States, Donald Trump, He claimed to have less confidence that Iran agrees to stop Uranium enrichment in a nuclear agreement with Washington, according to an interview published on Wednesday.
Persistent tension with Iran implies that it is likely that its crude oil offer remains restricted by sanctions.
Meanwhile, OPEC+ plans to increase production by 411,000 barrels per day in July, in his attempt to reverse production cuts for the fourth consecutive month.
Trump also kept high prices, stating that Beijing would supply rare earth magnets and minerals, and that the United States would allow the entry of Chinese students to their schools and universities. He added that the agreement is subject to the final approval of him and President Xi Jinping.
The downward risk in oil trade was temporarily eliminated, although the market reaction has been warm, since it is not clear how economic growth and world oil demand will be affected, said PVM analyst Tamas Varga.
Source: Ambito
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