Today, oil prices have initiated a major rally. The major reason for the price growth is the International Atomic Energy Agency’s statement. The IAEA reports that there is no compromise with Iran over its nuclear program.
According to the analytic team of Petromatrix, the IAEA and Iran stimulate the current rally in the global market of crude oil through their inability to compromise over the issue.
A couple of days ago, oil prices were in decline due to several negative factors.
At this point, most investors are risk-averse in advance o the forthcoming G-20 summit. Experts abstain from making any specific forecasts for the global economic prospects until the summit is over.
As of the noon, Brent cure oil is up by 0.37% up to $ 118,25 per barrel. At the same time, WTI oil is up by 0.21% up to $97.22 per barrel.
