Oil prices at a high of $ 76

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Oil prices continued to rise on Friday and the rise in price during the morning session of Monday, after posting highs of November 2014. Brent back above $ 75, noted in Asia highs on 75,83 and remains near the upper boundary of the intraday range, intending to challenge the next psychological mark of 76.
A key driver of the renewed rally – still the same: expectations of the US withdrawal from the nuclear deal with Iran. Players continue to lay in the price of the introduction of new sanctions against Tehran, which in this case will be forced to reduce exports and production. Trump will make a decision on this issue until the end of this week.
Additional supports prices worsening economic crisis in Venezuela, which continues to reduce volumes of production of black gold, unwittingly making an impressive contribution to a deal OPEC+.
Iran and its relations with the US remain the main topic on the market, as evidenced by the indifference of participants of the market to fresh U.S. data. According to a report by Baker Hughes, last week, the rig count in the country has increased by 9 units to 834. This is the fifth week of growth in a row and new maximum March 2015 value.
Local support Brent provides some pressure on the dollar. Although in General the American currency still feels good, despite the ambiguous statistics on the labor market published on Friday.
To overcome the barrier 76 Brent will take signals about the upcoming release of the trump of the nuclear deal. However, a new wave of purchases may attract a local profit-taking before the release of weekly reports on reserves and production in the United States.
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Michael Mashchenko,
Analyst social network for investors
eToro in Russia and the CIS