Oil prices were actively rising yesterday due to the growing tension in the Middle East.
On the basis of the results of trading on July 22, the price of the September contract for Brent oil on the ICE Futures stock exchange rose by $0.79 (1.26%), reaching $ 63.26 per barrel at close.
Today, black gold shows weak growth.
Futures for WTI crude for September at electronic trading on the New York Mercantile Exchange (NYMEX) by this time rose by $0.03 (0.05%) to $56.25 per barrel.
Last Friday, the Islamic Revolutionary Guard Corps of Iran reported the detention of the Stena Impero tanker going with the British flag in the Strait of Hormuz. The Iranian side called the violation of the international shipping rules the reason for the detention of the tanker.
British Foreign Minister Jeremy Hunt said on Monday that London is ready to take tough retaliatory actions against Iran if Tehran is not going to release the British tanker detained on Friday.
«If Iran continues to go on this dangerous path (refuses to release the British tanker), then it must admit that an increase in the western military presence along its coastline will be the price for that», said Hunt, speaking in the British parliament on Monday.
Meanwhile, US Secretary of State Michael Pompeo announced yesterday about the introduction of sanctions against the Chinese company ‘Zhuhai Zhenrong’ and its CEO Yu Men Li for the US sanctions regime of Iran oil import violations .
«The oil market is on edge, traders are attentively monitoring all the headlines,» said Daniel Hines, commodity sector analyst at Australia & New Zealand Banking Group in Sydney.
«The risk of interruptions in the oil supply to the world market is increasing, but doubts about the growth in demand limit the rise in prices» ,a Bloomberg expert quotes.