Brent crude oil futures opened the trading week on a positive note, recovering to $ 64 per barrel. As expected, the initiative was once again on the side of buyers. However, the only certainty consolidation above $ 65 will allow to speak about the turn of the downward trend and the return of oil to the uptrend. Support prices had increased tension in the Middle East, who returned to the market earlier fears of disruptions of supplies through the Strait of Hormuz.
The New York Times reported that Iran has officially tied the British capture of Iranian oil tanker with the nuclear deal, calling it illegal. According to Iran's position that such actions openly violate conditions JCPOA agreement (the Joint Comprehensive Plan of Action) - a joint comprehensive action plan on the nuclear issue. Since, in accordance with the agreement JCPOA Iran has the right to export its oil, any obstacle in the way of Iran's oil exports actually contradicts JCPOA conditions.
Market participants believe that, as a retaliatory action, Iran could well limit the transportation of oil through the Strait of Hormuz - one of the most important eyshih oil arteries. In addition to events in the Middle East can provide support to prices and statistics for the US oil reserves. The American Petroleum Institute will present its assessment of the weekly inventory changes today at 23:30 GMT. If they decline, Brent had a good opportunity to get to $ 65 per barrel.
BuyLimit the TP 63,90 brent 68,50 63,40 SL
Analytical reviews and comments reflect the personal opinion of the authors and are not a recommendation to trade. Author trader analyst Artem Deev company AMarkets
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