Oil prices rise after fears of US sanctions on exporting countries.

Catogory : Market Report

Black gold prices rose again on Monday evening as traders feared new US sanctions against a number of major oil exporters, according to the latest trading data on global oil bourses.

Oil At 22:02 Moscow time, Brent crude for June delivery rose 1.34 percent to $ 75.04 a barrel. June futures for June delivery of Texas Intermediate crude rose 0.83 percent to $ 68.97 a barrel.

While the price of crude oil “WTI” for the contracts for the month of June next, a rise of 0.02 percent and the price of this brand of oil to 68.41 dollars a barrel.

As experts said in Traditions Energy, the ambiguous position of the administration of US President Donald Trump over sanctions against Iran and Venezuela could cause further volatility in the oil market.

Earlier, Russian Energy Minister Alexander Novak said that the price of oil in April could reach $ 80 a barrel, but so far this price is not justified.

Overall markets remain well supported by healthy demand and ongoing supply cuts.