The price of oil rose to of 84.31 per barrel

© AP Photo / Hasan JamaliНефтяной the machine-rocking. Archival photoThe price of oil rose to of 84.31 per barrel© AP Photo / Hasan Jamali

Oil prices rising on Tuesday on the background of new evidence of lower exports from Iran on the eve of the entry into force of U.S. sanctions against the country, follows from the data of the auction.

As of 8.21 MSK price of the December futures for North sea petroleum mix of mark Brent have grown on 0,48%, to of 84.31 per barrel, the price of November futures for WTI — by 0.43% to 74,61 USD per barrel.

Support for the price of «black gold» on Tuesday provide new data on the continued decline in oil exports from Iran in early October. Thus, the data tracking of ships Refinitiv Eikon say that in the first week of October, Iran exported 1.1 million barrels a day of oil, as the source Agency in the oil sector said that the figure was even below 1 million barrels a day vs. 1.6 million barrels per day in September. Also in April, a month before U.S. President Donald trump announced the resumption of Iranian sanctions, Iran has supplied the world market with about 2.5 million barrels of oil per day.

Trump announced in may that Washington comes from the agreement on the nuclear program with Iran. He also reported the return of all sanctions against Iran including secondary, that is, against other countries doing business with Iran. Once again, the U.S. has enacted on August 7 some of the sanctions against Iran. More significant sanctions to cover exports of oil products, is expected to be 4 November. Washington has declared the purpose to increase the export of oil from Iran to zero and called on buyers of Iranian oil to abandon such purchases.

«Oil supplies from Iran are falling rapidly, and within a month, the market will test the promise of Saudi Arabia to replace the dwindling amounts of raw materials from the market,» say analysts at J. P. Morgan.

The crown Prince of Saudi Arabia Mohammed bin Salman al Saud said Friday that the Kingdom was followed by the request of the United States and with partners in the agreement OPEC+ increased the production twice more than Iranian oil has already departed from the market. In this statement the Minister of oil of Iran Bijan Zanganeh said Monday that the oil market does not believe the statements of Riyadh about the deficit of raw materials on the world market.

The price of oil rose to of 84.31 per barrel© Infographicsrussia forces in the world oil market

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