Oil: an overview of the market situation

The cost of oil futures rose modestly today, but despite this , continued to be near five-month low , which was associated with the release of a positive report on the United States, which is fueling a chance that the Fed will cut its incentives.

Note that in the first half of the day the oil quotations were moving in different directions - the cost of Brent held in positive territory in relation to yesterday's close , while the fall in the price of WTI .

The positive dynamics of quotations Brent was also due to technical purchases . Over the past three days, the official price of Brent crude fell more than 2.6% , and for the first time since early July established below $ 104 ? providing technically attractive conditions for opening long positions. The increased interest in buying oil futures was formed after the morning Brent oil futures for the first time in four months slipped below the price level of $ 103 per barrel.

The course of trading also contributed information on how the U.S. can go to some easing of economic sanctions against Iran in response to its strides in its nuclear program. This was announced by U.S. President Barack Obama . He noted that mitigation will be " insignificant," and the structure of sanctions will remain unchanged and the United States " will always be able to reverse ," if Iran does not accept a deal with the international community over its nuclear program . " Passing the talks ( between Six international mediators and Iran ) are about how Iran will fulfill its international obligations and to provide assurances not only to us but to the whole world that he is not developing nuclear weapons, saying its nuclear program is peaceful ," - said President . Barack Obama said that " an agreement with Iran on the atom is much more preferable " than whipping up tensions that could lead to confrontation.

Add that signs of easing relations between the U.S. and Iran emerged after the arrival of the new Iranian leadership . According to incoming reports, the U.S. secretary of state John Kerry toured the Middle East , will make an unscheduled stop in Geneva for a meeting with Iranian Foreign Minister Javad Zarif .

The cost of the December futures on U.S. light crude oil WTI (Light Sweet Crude Oil) rose to $ 94.49 a barrel on the New York Mercantile Exchange.

December futures price for North Sea Brent crude oil mixture fell $ 1.00 to $ 104.42 a barrel on the London exchange ICE Futures Europe.