Rising crude oil price due to US inventories and tension in the Middle East

LONDON – The Brent Barrel in London operates with marginal advances, amid tensions in the Middle East and a drop in inventories in the United States for the second week in a row, which followed the Interruption of supply in a Canadian facility.

Transactions are expected to be limited on Wednesday for Independence holidays in the United States, although the market has been more volatile.

At 8:50 am local time in Mexico City, ] the price of Bren increased by 0.06 percent, to 77.78 dollars a barrel.

Earlier, the barrel approached touching a session well above the $ 78 a barrel sooner after a commander of the Iranian Revolutionary Guard said that she was ready to prevent the export of regional oil if Iranian oil sales were banned by the United States.

In the e-commerce of the New York Stock Exchange US oil futures drop by 0.5% to 73.78 dollars per barrel, holding back gains after Tuesday's 1.2% rise .

The US market remains closed for the Independence Day holidays in the United States.

Iranian President Hbadan Rouhani threatened on Tuesday to stop oil deliveries from neighboring countries if Washington continued to put pressure on all countries. Stop buying Iranian oil.

Impending US sanctions on Iranian oil exports, Libya's declaration of force majeure, and unplanned oil pipeline closures in Nigeria have overshadowed supply prospects, despite increased pumping by oil. Organization of Oil exporting countries.

The American Petroleum Institute (API) reported Tuesday that inventories fell 4.51 million barrels last week, while a Bloomberg survey also estimated a decrease.

The Saudi cabinet claimed that the kingdom was ready to use its extra capacity as needed, while Energy Minister Khalid Al-Falih reiterated with Russia that the agreement of OPEC with allies 1 million barrels a day.

Oil is trading at levels close to levels seen in 2014, with Libya's supply disruptions in Canada and Venezuela exceeding the production gains of the Organization of Petroleum Exporting Countries ( OPEC). Morgan Stanley raised his forecast for Brent crude to $ 85 a barrel next year, while US President Donald Trump continued to put pressure on OPEC's largest producer, the company's top oil producer. 39, Saudi Arabia, oil for consumers.

With information from Reuters and Bloomberg.