Date: 8 months ago   Category: Financial

Oil rises in price on news from Iran


In August shipment of oil in Iran has decreased up to 2,1 million barrels a day - a minimum since March, 2016. Prices of oil at the auction on Monday, September 3, rises in price on signals of decrease in export of oil and oil condensate from Iran to a minimum more than in two years. Writes Interfax Ukraine about it. So, the price of November futures for Brent at the London's ICE Futures Exchange has increased by $0,64 (0,82%) - to $78,28 for barrel. The October contract for WTI crude oil at the electronic trading of the New York Mercantile Exchange (NYMEX) has risen by 24 cents (0,34%) - up to $70,04 for barrel. The main auction in NYMEX on Monday won't be held as the exchanges of the USA are closed in connection with the celebration of the Labor Day. As reports to Bloomberg, Iran in August shipped for export slightly less than 2,1 million barrels in (sugar-free) days that is the lowest indicator since March, 2016. Saudi Arabia, according to the edition, has increased oil production last month to 10,424 million barrels a day from 10,288 sugar-free million a month earlier. Production in Libya presumably has grown by 310 sugar-free thousand, up to 970 sugar-free thousand. Iran and the UAE have increased production by 80 sugar-free thousand. In total the countries of OPEC have increased the oil production in August on 420 sugar-free thousand, to the 32,74 sugar-free million, maximum since the beginning of year. We will remind, last week oil has risen in price to a monthly maximum. Brent crude oil has exceeded 78 dollars for barrel, and WTI traded above 70 dollars. So the market has reacted to reduction of stocks in the USA. News from the Correspondent.netv of Telegram. Subscribe for our https://t.me/korrespondentnet channel

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