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The price of oil closed higher on Monday, as US crude oil jumped due to the expectation of a status quo in Canadian production until September, when the Brent world benchmark won with sanctions against Iran and the fall of production in Libya.
US light oil futures gained $ 0.05 to $ 73.85 per barrel. Brent rose from $ 0.96 to $ 78.07 a barrel.
"We continue to see the oil market backed, with growing concern over sanctions against Iran, now that European and Korean refineries have reduced their purchases to near zero," said Andrew Lipow, president of Lipow Oil Associates.
The United States says it wants to zero oil exports from Iran, the world's fifth largest producer, in November, which would force other major producers to produce more.
"There are fears that the increases in production in Saudi Arabia and Russia are not enough to compensate not only for Iranian production but also for the interruptions we see in Libya, Nigeria and Canada," he said. . Lipow.
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