Yesterday, the barrel price of Brent oil rising up to $ 68.80, completed the day at the level of 68.56 dollars.
Brent oil price of the barrels, today at 09.46, a decrease of 0.6 percent compared to the closing was $ 68.11. At the same time, the Western Texas species (WTI) found buyers at $ 65.94 barrel of crude oil.
In the decline in prices, the nuclear diplomacy signals between Iran and the United States, the expectation of the production increase of the OPEC+ group and the US protectionist trade policies were effective.
Iranian Foreign Minister Abbas Erakci, yesterday in a statement on the X account, Iran’s agreement on the prevention of nuclear weapons and the agreement of the Security Measures Agreement, he said. This statement came after Tehran announced that he had put into practice a new law that passed through the Iranian parliament and has been implementing a new law that suspended all cooperation with the International Atomic Energy Agency (IAEA).
Iranian Foreign Ministry spokesman Ismail Bekayi said in a statement published in the Iranian media yesterday, the United States will restart nuclear negotiations, “I know that there are indirect contacts. (Foreign Affairs) Minister Oman, Qatar and other countries in consultations and diplomacy never stops.” He said.
Previously broadcasting from the United States Axios, based on sources close to the White House, Iran and the United States will restart nuclear talks in Oslo, the capital of Norway next week.
If the alleged interview occurs, the first direct negotiations between the two countries since the attack on Iran’s nuclear facilities last month will have begun again. These developments, which strengthen the perception that the risk of conflict in the Middle East decreased, alleviated concerns about oil supply and reduced prices.
The expectation that the OPEC+ group, which consists of oil -exporting countries (OPEC) and some non -OPEC producer countries, will decide to increase production in August, strengthens the expectation that the supply will increase in the market and creates downward pressure on prices.
The 8th OPEC+ member of Saudi Arabia, Russia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman is expected to determine the production amount at the meeting on July 6. The countries in question began to loosen the production cuts they had applied voluntarily in April and increased similar size in May, June and July. If the increase in August is reached, the fifth monthly production increase in this process will be realized.
The ongoing concerns about the possible effects of protectionist policies implemented by the US administration on economy and trade also affect prices.
US President Donald Trump is expected to send “tariff letters” to countries today. Trump, who made statements while leaving the capital Washington to attend an event in Iowa state yesterday, said that they would send letters to various countries from tomorrow (today) how much they would pay to trade with the USA.
Brent oil technically 69,91 dollars, resistance, 62.36 dollars can be monitored as support.
