The price of Mexican oil mix reached a maximum in four years

© RIA Novosti / Ilya Petliurite in photobacteria oil. Archival photoThe price of Mexican oil mix reached a maximum in four years© RIA Novosti / Ilya Petliurite the image Bank

The price of the Mexican oil mix on Monday rose to its highest in four years amid expectations of reduced exports from Iran due to us sanctions, according to the auction.

On the 1st of October the price of a barrel of Mexican mix made up 76,34 dollar for the first time since October 2014, breaking the mark of $ 76. Thus, Mexican blend costs more WTI futures for November, which cost as at 5.47 GMT 75.5 dollar. The price of December futures for Brent was $ 85,01 dollar. These two brands of oil also reached price highs in 2014.

Traders fear of a shortage of supply in the global market due to sanctions against Iran. USA, coming in may from the agreement on the nuclear program with Iran, and restore sanctions against the country, against the energy sector, they will come into force in early November. Washington has declared the purpose to increase the export of oil from Iran to zero.

Also, oil was supported by news of a trade agreement between Mexico, USA and Canada, which will now be called the USMCA is NAFTA. As expected, the document may be signed on 29 November in the framework of the G20 summit in Buenos Aires.

The price of Mexican oil mix reached a maximum in four years© Infographicsrussia forces in the world oil market

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