Oil prices are adjusted upwards

Oil prices are adjusted upwards

MOSCOW, 19 Jan. World oil prices are adjusted upwards on Tuesday after the sharp fall on the news of the lifting of sanctions with Iran, according to AFP.

As at 08.09 GMT, the March futures price for North sea petroleum mix of mark Brent rose by 0.85% to 28,98 dollar per barrel. The price of March futures for WTI — by 0.07% — up to 30,41 dollars per barrel.

The cost of “black gold” continue to influence investors ‘ concerns about the increasing oversupply in the oil market in connection with the return to it of Iranian oil.

Saturday, January 16, Iran got rid of the majority imposed on the country sanctions after confirmation of readiness of authorities to implement the program in a significant reduction of its nuclear potential. Market participants now fear that the Iranian side will be able in the next few weeks to increase supplies of oil to 500 thousand barrels per day.

“Prices are now very low. The situation favorable for the purchase of goods”, — told The Wall Street Journal the analyst Phillip Futures Daniel Ang (Daniel Ang).