After a volatile session, oil prices rose at settlement on Tuesday
Oil prices yesterday, Tuesday, after a volatile session, with markets assessing the repercussions of sanctions on crude flows, coinciding with the announcement of US President Donald Trump begins interviews to choose a new Chairman of the Federal Reserve.
And close Brent crude rose by 69 cents, or 1.07%, to reach $64.89 a barrel.
While West Texas Intermediate crude rose by 83 cents, or 1.39%, to reach $60.74.
US crude reached its highest level during the session at $60.92 after Trump’s statements.
Expectations of a decline in exports
She said Ministry of Treasury: "Sanctions imposed in October on two major oil companies began to put pressure on revenues, with expectations of a gradual decline in exports."
Loading operations also resumed at a major port after a two-day halt, and it was pumping about 2.2 million barrels per day, equivalent to 2% of global supplies.
Goldman Sachs Bank expected a decline in oil prices until 2026 due to excess supply, with the possibility of Brent crude exceeding the $70 level in 2026-2027 if production decreases significantly.
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