The end of sanctions against Iran led global oil futures to a 12-year low - on materials AMarkets.
Most unlucky for those who do not sell Brent or WTI, a secondary, lower-quality brand. Oil these "neschastlivchikov" is trading significantly below $ 20 a barrel. Many have to implement raw materials at prices around $ 10 per barrel. Sellers of cheaper grades of oil from Mexico, Venezuela, Canada and Iraq expect that the situation will only get worse against the background of the return of Iran with its oil.The fact that the secondary brand oil traded near the level of $ 10-13 per barrel, can not but have its negative impact on the dynamics of Brent and WTI. Roughly speaking, the latter slipped by 20% since the beginning of the year.
Brent Western Canadian Select from the Canadian province of Alberta is now traded at $ 15 a barrel. The producers want the prices are not below $ 43 to the minimum production was profitable. In all of this, many importers prefer zatarivatsya crude oil feedstock is cheaper brands, which are sold at a significant discount to the WTI and Brent. This is another factor that has a strong negative impact on the dynamics of the flagship brands.