Oil prices rose about 1 percent on Friday, celebrated their biggest quarterly growth in a decade after the US sanctions against Iran and Venezuela, as well as reduced supplies from OPEC overshadowed concerns over a slowdown in global economic growth, according to Reuters.
May p & # 39; yuchersy international benchmark grade Brent, which expired on Friday, added 57 cents to its value, or 0.84 percent, and reached 68.39 dollars per barrel. Since the increase was 27% in the first quarter. The more active June contract rose 48 cents to 67.58 dollars per barrel.
F & # 39; US crude yuchersy (WTI) added 84 cents, or 1.42 percent and reached 60.14 dollars per barrel, noting an increase of 32% over the period from January to March.
The increase for the quarter and in the test with the & # 39 is the largest since the second quarter of 2009, when they added about 40% of its value.
US sanctions against Iran and Venezuela have raised prices this year. Washington wants to see Malaysia, Singapore and other countries are fully aware of the illegal shipments of Iranian oil and Iran's tactics to avoid the sanctions, said US spokesman on Friday.
Deputy Minister of Finance for terrorism and financial intelligence Segal Mandelkern reporters in Singapore that the US is an additional "pressure" on Iran this week.
At the same time, the US direct business houses and factories to cut more deals with Venezuela under the threat of sanctions, said three sources familiar with.
Another factor supporting prices in this year's deal between OPEC and allies, like Russia, to cut production by about 1.2 million people. Barrels per day, which officially entered into force in January.
Producing countries will meet in June, but with a & # 39 are some cracks. OPEC leader Saudi Arabia failed to convince Russia continues to adhere to the agreement and Moscow could agree only to continue for three months, found three sources familiar with.
The market is supported by the slowdown of productivity growth in the US, where it has changed since mid-February. The US government announced on Friday that domestic production declined in January to 11.87 million. Barrels per day.
This week, US energy companies have reduced the number of oil rigs, which operates at the lowest level in nearly a year. It was the largest reduction in the number of platforms quarter in three years.
F & # 39; yuchers is under pressure due to concerns that the global economic slowdown may affect the demand for energy.
US consumer spending fell less than expected in January, while revenues rose slightly in February.
In addition, three of the leading state-controlled Chinese banks recorded its weakest profit growth for the quarter more than two years.
However, Barclays predicted that prices "is likely to further increase in the second quarter, reaching an average of 73 dollars per barrel of Brent and $ 65 per barrel of WTI, and an average of $ 70 a year."
Economists and analysts forecast in a monthly Reuters poll, the average price for Brent will amount to 67.12 dollars per barrel in 2019, about 1% more than in the prior consultation where the estimated price was 66.44 dollars per barrel.