The price of oil increased by 17 cents
According to Mehr News Agency to According to Reuters, oil prices increased on Tuesday. America’s decision to buy oil to fill strategic reserves supported the price of this commodity and investors continued to focus on developments in the Middle East.
The price of a barrel of Brent North Sea oil today increased by 17 cents equal to 0.24% to 71 dollars and 59 cents. US Texas Intermediate West oil is trading with 19 cents, equivalent to 0.28% increase, to 67 dollars and 57 cents.
Both of these oil indices decreased by 6% on Monday and reached the lowest figure since October 1, which can be attributed to the fact that the Zionist regime did not attack Iran’s oil facilities.
The United States announced on Monday that it is looking to buy 3 million barrels of oil to fill the strategic reserves, which will be delivered by May next year. This purchase does not leave much money for the American government for further purchases until the approval of the new budget.
While developments in the Middle East are still alarming, the market expects a temporary pause between Iran and the Zionist regime’s retaliatory attacks.
Tensions in the region are still high. The spokesman of the Ministry of Foreign Affairs of Iran said that the country will use all available tools to respond to the missile attack of the Zionist regime.
In the United States, crude oil and gasoline reserves have increased over the past week, and gas condensate reserves have decreased.
Experts of the Citi Group institute also say that the possibility of a conflict between Iran and Israel has decreased in such a way as to disrupt the supply of oil to the world market.
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