Oil continues to fall in price on expectations of news on Iran
Futures
Oil continued to move down in the
Tuesday. At the time of 10.53 MSK May
contract for Brent stands
55.65 dollars per barrel, WTI futures
It fell to 47.85 dollars.
Cause
continuation of the fall is that Iran and
Six world powers continue
Negotiations to alleviate sanctions. it
potentially send to the world market
Iranian oil stream. However, the result
negotiations still
unpredictable: the officials said,
that a framework agreement (the prelude to
comprehensive final agreement,
scheduled for the end of June) can be
and has not been reached. Any claims
the pace of the lifting of sanctions (from Iran)
and for Nuclear Research (from
West).
analysts
ANZ in its morning note
It said today that Iran has
significant reserves of oil for a long
time embargo in Iranian stocks
tanker fleet is stored at least 30
million barrels. All this immediately
will flood the world market as soon as
sanctions will be eased.
later
oil prices are expected to be
oscillate between 40 and 60 dollars
barrel if Iran will deliver
its raw materials, OPEC will not cut production,
and the shale revolution in the United States will not stop.
However, the world's hedge funds have increased
their bets on rising oil prices. it
applies only to Brent crude: in
Recently, the spread has grown
between the North Sea oil and WTI. By
Of WTI, in turn short
positions rose to a record high
levels.
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