Today: December 14, 2024
December 14, 2024
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Oil price rises driven by geopolitics

Oil price rises driven by geopolitics

The prices of the oil ended higher this Friday, driven by sanctions against Russia and by the will of donald trump to intensify pressure on Iran.

  • The price of a barrel of Brent of the sea del Norte for delivery in February gained 1.47% to $74.49.

Meanwhile, the west Texas Intermediate (WTI) for January advanced 1.81% to $71.29.

Seniors sanctions of the European Union against Russia they push the prices upwards. Furthermore, the United States suggests that it could proceed the same and the idea of ​​a fall in exports Russian companies are installed, explained John Evans, an analyst at PVM.

He president Joe”Biden could impose sanctions (…) stricter” to the Kremlin and “to the ships that transport oil Russian”, which drives the pricesadded Robert Yawger of Mizuho USA.

  • To this scenario is added the will to donald trump to pursue a policy of “maximum pressure” on Iran.

During his previous term, he “reduced exports Iranians of oil practically to zero when leaving the agreement” on the program nuclear Iranian “and apply sanctions maxims,” ​​recalls Bjarne Schieldrop, SEB analyst.

“The general feeling is that (trump) is going to play the card firmness with the Iranians” Yawger observed.

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