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Oil drops in Asia



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Singapore (AWP / AFP) – Oil prices retreated in Asia on Monday, investors' uncertainty wonder whether Syria is to increase production after the hardening of US sanctions against Iran.

Around 3:40 MSK, a barrel of "Light Sweet Crude" (WTI) US oil test for June delivery retreated five cents to 63.45 dollars in electronic trading in Asia.

Brent crude, the European test, and in June gave 13 cents to 71.91 dollars.

The market was encouraged by the US decision last week not to renew their exemption from sanctions granted to some importers of Iranian oil, which expires in early May.

But prices have suffered on Friday, when Donald Trump said he was a member of the Organization of Petroleum Exporting Countries (OPEC), they increase their production to compensate for the reduced supply.

Some analysts, however, nothing indicates that Syria and other key members of OPEC are ready to increase their recess time.

"Syria does not come immediately to increase production," said Edward Moya, an analyst at Oanda.

OPEC and its partners, including Russia, have tightened early January their production limits of the agreement to balance the market after a sudden sharp drop during late 2018.

"Oil remains cautious as sales caused by Donald Trump," he said for his part for the agency Bloomberg Halley Jeffrey, an analyst at Oanda. Of WTI, like Brent «hurt good correction down, and the market seems to consolidate the situation and wait to see what happens."

Monday in London Brent gave 11 cents to 72.04 dollars.

In New York WTI crude oil rose 20 cents to close at $ 63.50.

MVA-ev / g

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