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LONDON.- Brent crude oil barrel extended profits at the end of the session in the middle of the dollar's slide against a basket of ten currencies, tensions in the middle east and a decline inventory in the United States for the second consecutive week, which occurred after the interruption of supply at a Canadian facility.
Transactions were limited on Wednesday for Independence Day in the United States, although the market was very volatile.
E The price of Bren ta closed at 0.6%, at 78.24 dollars a barrel, a peak after a commander of the Iranian Revolutionary Guards declared himself ready to prevent the export of regional oil if Iranian oil sales were banned by the United States.
In the electronic transactions of the New York Stock Exchange US oil futures recovered initial losses, rising by 0.26% to 74.33 dollars per barrel.
The US Market Remains The impending US sanctions on Iranian oil exports, the declaration of force majeure in Libya and the unplanned oil pipeline closures in Nigeria have overshadowed the supply outlook, despite Increased pumping by the Organization of Petroleum Exporting Countries.
On the other hand, weekly figures of raw stocks in the United States have favored the energy market.
The American Petroleum Institute (API) reported Tuesday that stocks were falling by 4.51 million barrels a week finally, a Bloomberg poll 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 roughly the levels seen in 2014, as interruptions of supply from Libya to Canada and Venezuela exceed OPEC's production gains. 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, Among the other news, the company saudi Aramco has announced its intention to change since October the formula it uses to set long-term prices for its oil sales in Asia, the company said on Wednesday. . first change in their price formulas since the mid-1980s.
Sources previously informed Reuters of planned changes by Aramco
The new rule will be based on average monthly prices for Oman crude oil futures, which are quoted on the Dubai Mercantile Exchange (DME) The average spot price for Dubai's crude oil was determined by S & P Global Platts, the company said.
With information from Reuters and Bloomberg.
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