Crude oil prices fell today, with WTI futures dropping below $113 and Brent near $119.
As of 9:44 p.m. Thai time, the West Texas Intermediate Crude Oil (WTI) contract was delivered in May. It traded on the NYMEX minus $2.15, or 1.87%, to $112.79/barrel. The price of Brent crude oil (BRENT) minus $2.50 or 2.0 percent to $119.10 a barrel.
Oil prices rose yesterday. Caspian Pipeline Consortium (CPC), a joint venture between Russia and Kazakhstan, was reported. Oil cannot be exported from factories located on the Black Sea coast. due to damage from the storm And it takes regarding 1 and a half months to repair.
However, oil prices were under pressure today. US National Security Adviser Jake Sullivan said the United States and its allies had made progress in negotiating the Iran nuclear deal. which, if such an agreement is reached It will pave the way for Iran to return to export oil in the market.
Negotiations for the Iran nuclear deal have been going on for 11 months and diplomats believe the final stage of talks is now.
Previously, Iran produced an average of 2.4 million b/d in 2021 and is expected to produce 3.8 million b/d. If sanctions are lifted
Iranian Oil Minister Javad Oji said Iran might produce its full oil potential in less than two months following a nuclear deal with the West was reached.
Iran is the world’s fourth largest oil reserve, but its production has fallen sharply since it was sanctioned by the United States in 2018 following former President Donald Trump. Trump announced his withdrawal from the 2015 nuclear deal talks.
