The price of Texas Oil Intermediate (WTI) It fell a slight 0.3% this Tuesday and stood at $90.50 a barrel, after the Hungarian oil company MOL confirmed that the pumping of crude oil through the Russian pipeline was interrupted. Druzhba.
At the end of the operations in the New York Mercantile Exchange (Nymex), WTI futures contracts for September delivery were down 26 cents from the previous close.
The Hungarian oil company MOL also assured that it has reserves for several weeks. “The transport of oil through the Druzhba pipeline was interrupted a few days ago as, according to reports, there were technical problems in relation to the payment of transit by the Russian side”, confirmed the company in a statement sent to Efe. The price of black gold rose after the pipeline outage was reported, but then fell slightly due to uncertainty about the demand outlook.
Among the pressures on oil is also the announcement that the Government from iran “will study” the new proposal of European Union to salvage the 2015 nuclear deal, which would clear the way to boost its crude exports in a tight market.
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“These issues must be studied in depth and we will give our final answer to the Vienna coordinator,” said the Ministry of Foreign Affairs Iranian in a statement. The Foreign Ministry stressed that it was achieved “relative progress on some issues” in this round of negotiations, but did not consider the agreement closed.
The last round to reactivate the international agreement that in 2015 limited the Iranian nuclear program in exchange for the lifting of sanctions ended on Monday with a new text proposed by the European Union, coordinator of the negotiations. The proposal must now be approved by the governments of the countries that are part of the agreement as they are Iran, Germany, France, the United Kingdom, Russia, China and USA.
Natural gas futures for September added 24 cents to $7.83, and gasoline futures due the same month added 7 cents to $2.96 a gallon.