Oil: а review of the market situation

Oil prices rose moderately, entrenched above $ 57 (Brent) and $ 51 (WTI), which is associated with the weakening of concerns about the fact that the Interim Agreement on Iran's nuclear program will lead to a rapid increase in oil supplies.

Recall, Iran's Supreme Leader Ali Khamenei demanded that all sanctions against his country were canceled on the same day is reached final agreement on Iran's nuclear program, but the United States is planning a gradual easing of sanctions. "If an agreement is reached and then will not soon, so Iranian oil will return to the market is not as fast as we expected two weeks ago," - said the chief strategist at CMC Markets Michael McCarthy.

Meanwhile, Commerzbank analyst Eugen Weinberg said: "If judged solely on the price of oil, the market is not convinced that the deal with Iran will be held, and its exports will recover. If Iran is not ready to negotiate without the lifting of sanctions, there will be no agreement ". It should be emphasized, according to brokers and officials from Iran holds 7 million to 35 million barrels of oil in storage to direct them for export, as soon as the nuclear deal will be concluded.

Support prices also have recent statements Saudi Oil Minister Ali al-Naimi. He said that the kingdom is ready to increase oil prices. But only if the same thing will make the rest of the exporting country. "The Kingdom is ready to bring stability to the market and increase the price of oil, but on condition of participation in the major exporting countries and importers, as well as under the condition that it will be based on clear principles and have a high level of transparency" - said al-Naimi .

Pressure oil continues to report the US government, which showed that crude oil inventories rose by nearly 11 million barrels last week, registering the biggest gain in 14 years.

May futures for US light crude oil WTI (Light Sweet Crude Oil) rose to 51.39 dollars per barrel on the New York Mercantile Exchange.

May futures price for North Sea petroleum mix of Brent increased by $ 0.78 to 57.58 dollars a barrel on the London Stock Exchange ICE Futures Europe.