Brent crude fell below $30 on fears of the return of Iranian oil

Brent crude fell below $30 on fears of the return of Iranian oil


Earlier it became known that the IAEA could report Iran to the 15th of January, after which will be agreed upon solution about a meeting of foreign Ministers of the six international negotiators for the announcement of the implementation of the Vienna agreement that relieves the sanctions with Iran, resulting in Iranian oil will be able to go on and so a crowded market.

MOSCOW, 15 Jan. The world prices for oil on Friday has accelerated the decline; Brent crude oil become cheaper by more than 3%, WTI – by 5% due to the continuing oversupply of raw materials in the world and on the fears of investors about the return of Iranian oil to the market, according to AFP.

As at 11.59 GMT, the March futures price for North sea petroleum mix of mark Brent fell by 3.5% to 29,80 USD per barrel. The price of February futures for oil of mark WTI fell to 12.03 on 5,06% — to 29.65 per barrel.

Iran and the six international negotiators last year reached a historic agreement on the settlement of the longstanding problem of the Iranian atom. Difficult negotiations culminated in the joint plan of action, which will completely withdraw from Iran’s previously imposed economic and financial sanctions by the UNSC, U.S. and EU, resulting in a crowded oil market could be exempted from sanctions on Iran.