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At around 5:25 a.m., a barrel of North Sea Brent for August delivery was worth $ 73.93 in London, up 0.57% from Friday’s close.
In New York, a barrel of WTI for the month of July gained at the same time 0.60%, to 72.07 dollars.
“The bullish scenario is still intact thanks to global demand which is recovering,” explains Seb analyst Bjarne Schieldrop.
Last Wednesday, Brent and WTI even touched new records in several years during the session, at $ 74.96 and $ 72.99, a first since May 2019 and October 2018 respectively.
“The election of Ebrahim Raïssi as the new Iranian president is likely to delay the return of its oil” to the market, continued Mr. Schieldrop, but not to “derail” it.
The ultraconservative candidate, proclaimed the winner on Saturday of the Iranian presidential election, is to succeed moderate Hassan Rouhani in August.
Although stemming from a political current characterized by anti-Americanism and rejection of the West, Mr. Raïssi nevertheless recalled during the campaign that the priority was to obtain the lifting of sanctions to get the country out of the country. rut.
In the aftermath of his election, several diplomats trying to resuscitate the Iran nuclear deal in Vienna, Austria, said they were “getting closer” to an agreement, but sticking points remain.
“If prices hold until early next month, it will only increase the likelihood that OPEC will” open the floodgates further, “also warned Warren Patterson and Wenyu Yao, of ING.
Members of the Organization of the Petroleum Exporting Countries (OPEC) meet on 1is July to stop their production quotas from August.
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