March 8, 2021

Texas crude rises 0.3% and closes at 57.66 dollars on a day marked by Iran

The price of intermediate oil from Texas (WTI) rose by 0.3% on Monday and closed at 57.66 dollars a barrel, in a day marked by the uncertainty generated by the tension between Iran and the United States, especially after Tehran has resumed its nuclear pulse with the enrichment of uranium.

At the end of the live operations on the New York Mercantile Exchange (Nymex), WTI futures contracts for delivery in August totaled 15 cents on the day of last Friday.

Texas oil prices rose on Monday due to tensions over Iran's nuclear program, but the rise in turn was limited by concerns over global economic growth and, consequently, oil demand, analysts said. .

Iran announced yesterday that it has begun to enrich uranium to a purity of more than 4.5%, at the expiration of the 60-day ultimatum that the Tehran authorities had given to the European signatories of the nuclear agreement to compensate for the impact of the unilateral withdrawal of that pact by the United States.

The United States promised on Monday that it will continue with its campaign of "maximum pressure" against Iran, which it accused of "nuclear extortion", after Tehran confirmed that it is enriching uranium beyond the stipulations of the 2015 multilateral agreement.

A senior US official, who requested anonymity, told Efe that "the Iranian leaders are using enrichment to turn the whole world into their hostage, through nuclear extortion."

"The Iranian regime has shown once again that Iran's horrible nuclear agreement does nothing to prevent Tehran from threatening international peace and security at any time it wishes," the official said.

In parallel, oil prices continue to be affected by persistent concerns about demand, as the US-China trade war has weakened the prospects for global economic growth, in an issue yet to be resolved.

In this context, gasoline contracts for delivery in August subtracted two cents to $ 1.90 per gallon, while natural gas contracts for delivery in the same month subtracted one cent, up to $ 2.40 per thousand cubic feet .

(tagsToTranslate) Texas (t) closes (t) dollars (t) marked (t) Iran

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