* Rise in world oil prices after a European proposal to ban imports of Iranian oil
Erbil, January 4 (Rn) futures rose to Brent more than a dollar, Wednesday, with U.S. crude oil recovered early losses and turned higher on news of an agreement in principle EU governments to ban the import of Iranian oil.
According to “Reuters”, the Brent crude oil contracts rose in February to $ 1.07 of $ 113.20 a barrel while the price of U.S. light crude in the contract of February 34 cents to 103.30 dollars a barrel.
Meanwhile, a senior official in Iran’s oil sector, “Iran has alternative ways to sell their oil if the EU ban on import of Iranian crude, and it plans to export about 2.3 million barrels per day this year,” according to Reuters.
The European diplomats said, Wednesday, the governments of the European Union reached a tentative agreement to ban the import of Iranian oil in the EU but has not decided when to begin the application of the ban.
Said Mohsen Qmbar director of international affairs at National Iranian Oil Company that Tehran already studied different ways to deal with the matter and could replace some of these buyers very easily. ” Qmbar added that “part of the quantities that will be of the ban could turn to China and other countries in Asia and Africa”, ruling that his country’s crude oil stored on tankers. This comes as a Treasury Department official said the U.S., Wednesday, that the United States supports the European proposal to ban imports of Iranian oil and believes that it can restrict the Tehran proceeds from the sale of crude oil without damage to the global markets.
Reuters quoted a Responsible American, who requested anonymity, said that “the reduction of imports of Iranian oil in stages and timing of appropriate could avoid market disruption,” adding that “new law of sanctions issued by the United States recently involved a phased approach in this regard.”
It would ban the Merseyside to import Iranian oil within the coordinated efforts of the Western pressure on Tehran to abandon its nuclear program, which many governments fear that it might be intended for the manufacture of nuclear weapons, while Tehran says its aims are peaceful only. The United States imposed new sanctions on the eve of the new year to prevent financial institutions that deal with Iran’s central bank to deal with the U.S. financial system. And estimates the International Energy Agency Iran’s exports to the EU by about 450 thousand barrels per day.
The * Rise in world oil prices after a European proposal to ban imports of Iranian oil by Dinar Daddy's Tidbits, unless otherwise expressly stated, is licensed under a Creative Commons Attribution-ShareAlike 3.0 Unported License.
Comments
-
-
Follow Dinar Daddy
-
-
Currency Converter Powered by Forex pros - The Forex Portal -
