Oil rises a sixth day in a row, continuing to upgrade the highs
Oil rises a sixth day in a row, continuing to update the highs of the end of 2014. Eve Brent has broken the next psychological level 77 and today in Asia was noted in the fresh mountain peaks in the area of 77,80, adding from the start of trading about 0.5%.
The recent wave of growth is due to “Iranian factor”. Initially, prices were rising on expectations the release of the trump of the nuclear deal, and now act out the fact of realization of such scenario and looking forward to the introduction of sanctions against Tehran, which would force third-largest producer of OPEC well to cut exports and production of black gold.
Besides the fact that Iran is a major member of OPEC transaction+, the reduction of exports from the middle East countries will be particularly significant for the world energy market, where conditions continue to harden and there are other geopolitical risks, including further collapse of production in Venezuela. In such circumstances, the scenario with achievement of the $ 100 per barrel doesn’t look so ghostly.
The only obstacle that stands in the way of Brent at the moment – the threat from American shale producers that have increased production at lower prices, and now can redouble their efforts. By the way, according to the energy Ministry, oil production in the United States last week set a new record level of 10.7 million barrels a day, inexorably approaching the Russian volume at 11 million
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