More pressure for gasoline: oil has reached a maximum of six months

The White House announced that it will not renew in May the exemptions currently allowing certain countries to import Iranian oil without incurring sanctions on the part of Washington.

"The geopolitical risk premium has made the oil market grow", said John Kilduff, a partner of Again Capital LLC in New York. "Most legitimate buyers, if not all, will avoid Iranian oil, the flow of Iran will be reduced to a trickle."

Texas Intermediate Oil (WTI) closed the day with a 2.7% increase to close at $ 65.70 per barrel, while Brent crude for June delivery closed at $ 74 on the market . London, with an increase of 2.82% more than at the end of the previous session.

The uptrend that shows the benchmark crude in London places it at its highest level since early November 2018.

On the NYSE (NYMEX), WTI futures to be delivered in May amounted to US $ 1.70 compared to the previous session.

At the same time, gasoline contracts expiring in May were worth 5 cents, up to $ 2.12 per gallon, and natural gas contracts, maturing in the same month, were over three cents and reached $ 2.52. per thousand cubic feet.

In November, the United States reimposed sanctions on Iranian oil exports after President Donald Trump unilaterally withdrew the country from an agreement to cut Iran's nuclear program, signed by Tehran and six world powers.

However, Washington has granted exemptions to Iran 's top eight customers: China, India, Japan, South Korea, Taiwan, Turkey, Italy and Greece, which allowed them to buy l & rsquo; input for another six months.

Another reduction in the Iranian supply would strengthen pressure on a market already adjusted by US sanctions against Iran and Venezuela, as well as on voluntary pumping cuts agreed by the OPEC + alliance.

US Secretary of State Mike Pompeo reiterated that Washington's goal was to reduce Iran's oil exports to zero.