Brent crude fell to $37,71 after the price increase last week


Moscow. December 28. Oil prices, after rising for the previous week’s fall on Monday on the statements of Iran’s intention to raise production, reports Bloomberg.

The cost of the February futures for Brent crude on London’s ICE Futures exchange to 8:36 Moscow time has decreased on $0,18 (0,48%) – to $37,71 per barrel. By the close of the market last Thursday, the futures price rose to $0,53 (1,42%) – to 37,89 per barrel.

Futures price for WTI crude oil for February in electronic trading on the new York Mercantile exchange (NYMEX) decreased by this time $0,36 (0,94%) – to $37,74 per barrel. According to the results of previous trading day, the contract rose $0,60 (1.6 percent), to $38,1 per barrel.

Iran to restore oil supplies to the level observed before the introduction of economic sanctions against the country, is a priority, said the Minister of oil of Iran Bijan Zanganeh.

Meanwhile, the head of oil Corporation, Iran’s National Iranian Oil Rokneddin Javadi again confirmed that the country intends to increase oil exports by 500 thousand barrels a day during the week after the lifting of sanctions.

“If Iran really will increase the supply at such a value as planned, nothing good on the oil market in the first half of 2016 can not wait, – said a senior analyst at Samsung Futures Hong sung Ki. – The desire of countries to increase exports of the fuel will provide an incentive for further decline”.