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Oil prices rose Monday almost four dollars

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New York, Aug 30 (Prensa Latina) Oil prices rose almost four dollars on Monday in New York and London, encouraged by a possible cut in crude oil production by OPEC+, operators reported.

In the first of these markets, the barrel of Texas Intermediate Oil (WTI), reference in the United States, gained 3.95 dollars (4.2 percent) and was set at 97.01 dollars at the end of operations.

Likewise, in London, Brent oil, the benchmark in Europe, said goodbye to the day trading at 105.09 dollars per barrel, which meant a rebound of 3.98 dollars (3.93 percent).

Specialized sources commented that the prices of black gold began this week with the upward momentum of the previous one, due to possible cuts in crude oil production by OPEC+, an alliance of the Organization of Petroleum Exporting Countries (OPEC) with 10 major oil-producing nations, including Russia.

This has said that it will act to stabilize prices in case the market shows weakness as in some previous weeks.

Experts see a strong downside risk for crude oil prices, the possibility of reviving the pact on Iran’s nuclear program reached in 2015.

They added that if the current negotiations with this objective between a group of powers with Tehran successfully conclude, this would allow Iranian crude to be pumped normally to all destinations, which would contribute to a greater supply of the market and lower prices.

ef/jcm/rs

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