Oil rises to possible sanctions to Russia and Iran and a technical rebound

The prices of oil They uploaded on Friday promoted by the possibility of a reinforcement of US sanctions against Moscow and Tehran and taking advantage of a technical rebound after several downward sessions.

The price of the barrel of Brent From the North Sea, for delivery in May, it rose 1.30% to 70.36 dollars.

Its American equivalent, the reference barrel West Texas Intermediatefor delivery in April, it achieved 1.03% to $ 67.04.

“We had an important sales movement for two weeks and the investors who had bet on the decline now believe that it is time to withdraw part of their profits when the weekend arrived”He told the AFP Stephen Schorkof The Schork Group.

This technical rebound could be short -term, while the “General Panorama tends above all to a dwasting dynamic”, The expert estimated when considering that Brent’s barrel will overcome the symbolic roof of 70 dollars since Monday.

On Friday, oil prices also benefited from the statements the previous day of the US Secretary of the Treasury, Scott Besent.

Besent He said his country will not hesitate to “Go thoroughly”When referring to possible sanctions against Russian energy if that allows a ceasefire in the war in Ukraine, they underlined Helge André Martinsen and Tobias Ingebrigtsen, of DNB.

The American sanctions on Russian oil were applied since January by former president Joe Biden, before his outlet from the White House, and contribute to the prices of crude oil being higher and limit Moscow energy exports.

Besent also confirmed that “The ‘maximum pressure’ strategy against Iran would continue”, According to the details given by Arne Lohmann Rasmussen, by Global Risk Management.

Iran is part of the ten largest world producers and the sanctions against them are a considerable factor of rising prices in the market.

Since its return on January 20 to the presidency of the United States, Donald Trump reinforced the sanctions against Tehran aimed mainly to oil sales.