North sea Brent crude also rose, but not so much by 8.6%. Its value increased to 22.16 per barrel.
the Main reasons for the growth of prices for “black gold”, experts have called the news about the latest round of strained U.S. relations with Iran and positive expectations from the market impact of the transaction on reduction of oil production.
President of the United States Donald trump yesterday announced that he had instructed the Navy in the Persian Gulf to open fire on any Iranian ships in the case of aggressive actions of the latter. This increases tension in the region and could lead to the disruption of oil supplies to their countries of Persian Gulf. In the current situation of oversupply of oil on the market, this information positively influenced the quotations of “black gold”.
production cuts by the OPEC members as well as other oil-producing countries will be formally launched on 1 may. But it is already known about a significant decline in production in the United States, Mexico and Canada. In addition Kuwait was to reduce the volumes of oil supplies to the market without waiting for the start of the transaction. These factors also had a beneficial impact on the prices of a barrel.
