The price of Brent oil rose significantly yesterday and recovered the maximum interim on the morning last Thursday of just over $ 68 per barrel, says Commerzbank raw material analyst Carsten Fritsch.
Brent crude is triggered by sanctions and inventory fall
“The increase in price was caused by relaxation signals in the tariff conflict and new US sanctions against Iran. After customers in China (see updating raw materials on April 17), a transport network of Iran, which is considered responsible for the transport of Iranian oil, was also included in the US sanctions list yesterday.”
“An unexpectedly pronounced fall in the inventories of the US oil of the US reported by the API at night also promoted prices. We no longer see a significant bullish potential for oil prices due to the imminent overeferta.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
