Analysts attributed the rise to the delay in concluding the Iranian nuclear talks, and thus the delay in the possible return of Iranian crude to international markets Already suffering from Russian supply disruptions.
A young man’s mystery revived talks Iran nuclear deal for 2015 with world powersSunday, following Russia’s demands for guarantees from the United States that the sanctions it faces over the conflict in Ukraine will not harm its trade with Tehran.
Sources said that China has put forward new demands.
In response to Russia’s demands, the US Secretary of State said Anthony BlinkenSunday, the sanctions imposed on Russia because of the war on Ukraine It has nothing to do with a possible nuclear deal with Iran.
Brent crude futures rose $12.28, or 10.4 percent, to $130.39 a barrel by 23:05 GMT, while US West Texas Intermediate crude rose $10.70, or 9.3 percent, to $126.38.
And both crudes rose in the first few minutes of trading, Sunday, to their highest level since July 2008, as Brent reached 139.13 dollars per barrel and West Texas Intermediate crude reached 130.50 dollars.
The two crude contracts recorded their highest level since July 2008, with Brent crude recording $147.50 a barrel and West Texas Intermediate $147.27.
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Shortly after the opening of trading around 23:00 GMT, the benchmark Brent crude price for May delivery rose to 139.13 dollars, before retreating.
At around midnight GMT, it was still up 10.44 percent at $130.45.
Analysts attributed the rise to the delay in concluding the Iranian nuclear talks, and thus the delay in the possible return of Iranian crude to international markets Already suffering from Russian supply disruptions.
A young man’s mystery revived talks Iran nuclear deal for 2015 with world powersSunday, following Russia’s demands for guarantees from the United States that the sanctions it faces over the conflict in Ukraine will not harm its trade with Tehran.
Sources said that China has put forward new demands.
In response to Russia’s demands, the US Secretary of State said Anthony BlinkenSunday, the sanctions imposed on Russia because of the war on Ukraine It has nothing to do with a possible nuclear deal with Iran.
Brent crude futures rose $12.28, or 10.4 percent, to $130.39 a barrel by 23:05 GMT, while US West Texas Intermediate crude rose $10.70, or 9.3 percent, to $126.38.
And both crudes rose in the first few minutes of trading, Sunday, to their highest level since July 2008, as Brent reached 139.13 dollars per barrel and West Texas Intermediate crude reached 130.50 dollars.
The two crude contracts recorded their highest level since July 2008, with Brent crude recording $147.50 a barrel and West Texas Intermediate $147.27.