After the announcement of the United States against Iranian oil, crude reaches its highest price since November

The Oil prices rise sharply on Monday and exceeded $ 74 per barrel, its highest level since November, due to the US decision not to renew exemptions that allowed some countries to continue to buy Iranian crude, further reducing oil prices. 39; supply.

The Brent climbed 3.3% to $ 74.31 a barrel, maximum from November 1st. At 12:42 GMT, the benchmark added $ 1.82 to $ 73.79.

For its part, the West Texas Intermediate climbed a 2.9% to $ 65.87 a barrel – its highest level since October 31 – and then earned between $ 1.52 and $ 65.52 a barrel.

This significant increase in the price of crude is recorded just as the US government announced Monday the end of the exemptions for the purchase of Iranian oil, with the aim of reducing Tehran's "zero" exports, while acting " coordinated "with Saudi Arabia and the United Arab Emirates to maintain" global supply ".

"President Donald J. Trump has decided not to renew the SREs when they expire at the beginning of May. This decision aims to reduce Iran's oil exports to zero, depriving the regime of its main source of revenue"The White House said in a statement.

Among the eight countries to which Washington granted a 180-day exemption that ended May 2, are some of the biggest buyers of Iranian crude oil: China, Turkey and India.

For its part, Saudi Arabia declared Monday ready to "stabilize" the oil market.

Riad "follow committed to its steady policy of market stabilizationsaid Saudi Energy Minister Khaled al-Falih.

"Arabia and other OPEC members are more than compensating for the difference in oil flow," predicted Trump.

Up to now in April, Iranian exports averaged less than 1 million barrels a day, according to Refinitiv Eikon and two other companies that track these exports and refused to be identified. This figure is lower than the estimate of 1.1 million bpd in March. It remains to be seen how China and other countries will react to determine whether they risk being sanctioned by Washington if they decide to continue shopping in Tehran.

(With information from EFE and Reuters)