The oil prices fell more than 1% on a volatile Monday, after knowing that Iran Look for the end of hostilities with Israel, which increases the possibility of a truce and relieves fears to an interruption of the supply of crude from the region.
However, this Friday the futures of the Brent 97 cents went down, or 1.3%, to U $ S73.26 The barrel, while the futures of the WTI American They lost 94 cents, or 1.3%, to U $ S72.04.
The barrel had risen more than U $ S4 at the beginning of the session and closed with casualties u $ s1. Both reference indices rose 7% on Friday, after firing more than 13% during the session and reaching their highest levels since January, after Israel attacks Iran and increased the concern that the conflict could extend to the entire region and significantly disturb the exports of the Middle East.
Expectation for a truce in the conflict of the Middle East
Iran asked on Monday to the president of the United States, Donald Trumpthat forces Israel to cease fire as the only way to put an end to the four -day air war, while the Israeli prime minister, Benjamin NetanyahuHe said his country was in the “road to victory.”
Sources told Reuters that Tehran I had asked Qatar, Saudi Arabia and Oman They press Trump to use their influence on Israel to access a high immediate fire. In return, The Islamic Republic would show flexibility in nuclear negotiationstwo Iranian and three regional sources said.
The operators reduced the bets that both parties bombings could become a broader regional war that would threaten the energy infrastructure, said Robert Yawger, a Mizuho analyst.
“Everything is reduced to how the conflict around energy flows intensify,” he said Harry TchilinguirianChief of the Investigation Group of Onyx Capital Group. “Until now, production capacity and export capacity have been saved and there has been no effort on the part of Iran to harm flows through the Ormuz Strait,” he added.
Iranmember of the Organization of oil exporting countries (OPEC)currently produces about 3.3 million BPD and exports more than 2 million BPD of oil and fuel. The surplus capacity of the OPEC and its allies, including Russia, to pump more oil in order to compensate for any interruption is approximately equivalent to Iran’s production, according to OPEC analysts and observers.
On Monday, Iranian missiles reached the Israeli city of Tel Aviv and the port of Haifadestroying housing and affirming the concern of the world leaders who meet this week in G7 for the possibility that the battle between the two old enemies leads to a broader regional conflict. An exchange of attacks between Israel and Iran on Sunday resulted in civil victims and both armies urged civilians from the opposite side to take precautions against new attacks.
The latest events fueled the concern about interruptions in the Strait of Ormuza vital step for maritime transport. Around a fifth of the global oil consumption, that is, between 18 million and 19 million barrels per day of oil, condensate and fuel, passes through the Strait.
The president of the USA, Donald Trumpsaid Sunday that expects Israel and Iran to negotiate a stop the firebut added that sometimes countries have to fight first. Trump said that the US would continue to support Israel, but declined to say if he asked the US ally to paus his attacks against Iran.
The German Chancellor, Friedrich MerzHe said he hoped that a meeting of the leaders of the group of the seven that meets in Canada on Sunday will reach an agreement to help resolve the conflict and prevent it from worsening.
Meanwhile, Iran communicated to the mediators of Qatar and Oman that He is not open to negotiate a fire while he is under Israeli attackHe told Reuters on Sunday an informed representative of communications.
Source: Ambito
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