Oil price falls after US sanctions against Iran started

FXOpen

Oil price falls after US sanctions against Iran startedFor the last month oil benchmark Brent and WTI have lost more than 15% in total.


World oil prices fell on Monday, November 5th, after the White House imposed the sanctions on Iran’s fuel exports.

Due to the London Stock Exchange ICE, the January Brent futures dropped by 0.26% to $72.64. And due to the US agency EIA, WTI futures fell to $63.69, which is $3.64 less than it was at the previous week.

According to the agency, Brent and WTI have lost a total of more than 15% since the early October.

It should be noted, that today US sanctions on Iran entered into force again. Sanctions apply to Iran’s oil exports and the banking sector. However, Washington allowed eight Asian countries to import Iranian fuel even after the sanctions begin.

President of Iran Hassan Rouhani told that his country would break the sanctions and continue to export oil.

This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Latest from Financial Market News

The US Continues to Trump the Euro Economy on Key Metrics, But What Is Next? Is the UK really in a recession? Perhaps 2024 data will be different Weekly Market Wrap With Gary Thomson: US INFLATION, GBP/USD, GOLD, BITCOIN EURGBP continues to be suppressed during February. Will it rise again? Weekly Market Wrap With Gary Thomson: S&P 500, CAD, GBP/USD, AMZN

Latest articles

Forex Analysis

USD/JPY Technical Analysis: Yen Strengthens after Comments from Japanese Officials

This week has raised alarm bells for USD/JPY market participants who are trading the bullish momentum that has been going on since early 2024 (shown in the blue curved lines on the USD/JPY chart): → Vice Finance Minister Masato

Forex Analysis

The American Currency Resumes Its Growth

The American currency, despite a rather multidirectional fundamental data, resumes growth at the end of February. In the main currency pairs, one can observe both rebounds from key levels and continuation of the main trends. Thus, the USD/CAD pair

Cryptocurrencies

BTC/USD Price Exceeds $60,000 Per Coin

Several factors contributed to this: → Effect associated with the approval of Bitcoin ETF. The media writes that investments in these financial instruments amount to about 9k bitcoins per day, and miners produce only 900 bitcoins per day. The total investment

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65.68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.