World Oil Price Today Brent was $ 2 and 2 cents
reports Mehr News Agency Style = “Text-align: Justify”> about Venezuelan-Iran oil exports and overwhelming decline in US crude oil reserves have increased oil prices on Wednesday.
Price per barrel of oil Brent North Sea today rose 2 cents to $ 5.5 % to $ 5 and 2 cents. Oil Texas Texas Intermediate US is also traded at 2 cents equivalent to a 4.7 percent increase of $ 2 2 cents.
Trump signed an executive order on Monday, according to which 5 % of imports from any country where the buyer of crude oil and liquid fuels Venezuela is applied. Oil is the main export of Venezuelas and China, which has been subject to US import tolls, is the country’s largest buyer.
Venezuelan oil trade to China stopped on Tuesday. Chinese businessmen and refineries have announced they are waiting to see how the order will be implemented and whether Beijing decides to stop buying Venezuelan oil.
Washington also launched a new round of sanctions against Iranian oil sales last week, including companies such as Shagwang Petrokockal China and Iranian oil supplier ships are being reached to these refineries in China. China is Iran’s largest buyer of crude oil.
On the other hand, the US Oil Institute has announced that its crude oil reserves have fallen by 4.7 million barrels last week. The news, which is a sign of high fuel demand in the world’s largest economy, supports oil prices.
The US has reached an agreement with Ukraine and Russia with an agreement that stops the attack on energy targets at sea. Thus, the possibility of lifting sanctions against Moscow will rise.
