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Oil tanker stuck nearly $ 57 as Iran, OPEC offset rebound drill in the United States

Oil stabilized yesterday US $ 57 per barrel, due to rising tensions between the US and Iran and OPEC supply cuts were offset by large stocks and signs that higher prices Of the United States restart production. The energy companies added US oil rigs for 13 weeks in the last 14, data reported on Friday. Despite OPEC cuts, US crude oil inventories rose more than expected last week. Brent traded at US $ 56.75 a barrel at 1000 GMT, down 6 cents, in a narrow range of 46 cents. US gross increased 4 cents US to $ 53.87. "The tug of war between the bulls and oil bears continues last week and there are no clear signs that could prove to be the winner," said Tamas Varga of the PVM oil broker. "The result is a limited-reach market in which shoppers far in a pop over US $ 57 Brent base, but feel a drop of US $ 54 level is an attractive buy." The tension between Tehran and Washington has increased from an Iranian missile test, prompting the administration of US President Donald Trump to impose sanctions on individuals and entities related to the Revolutionary Guards. However, a commander of the Revolutionary Guards said on the weekend that Iran would use its missiles if its security is threatened. "The US decision to impose new restrictions on Iran ... increases the risk of further tensions that disrupt the supply of oil," ANZ said. Iran, the third largest producer of the Organization of Petroleum Export Countries (OPEC), has increased production gradually since most of the international sanctions on its nuclear program were raised in 2016. Tehran is exempt from the OPEC regime to cut supplies With Russia and other independent producers. The reductions of nearly 1.8 million barrels per day. OPEC members included in the measure have implemented at least 80 percent so far, according to a poll and Reuters analysts. Russia has reduced production by about 100,000 barrels per day and plans an additional reduction of 300,000 by the end of April. With reduced production, more investors are betting on rising prices despite indicators such as Baker Hughes counting the platform showing an increase in US offer. Investors increased their futures positions and options over the long-term gross week until January 31 at a record 412,380 lots, the Commodity Futures Trading Commission said Friday.

 
 

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