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At the beginning of last week the main news came from the Persian Gulf region.

Yahya Rahim Safavi, the military adviser to Iran’s supreme leader Ayatollah Ali Khamenei, said that US warships in the Persian Gulf are within reach of Iranian missiles and any collision between the two countries will push oil prices above $ 100 a barrel. “The first bullet fired in the Persian Gulf will push oil prices above $ 100 [per barrel]. This would be unbearable for America, Europe and US allies, such as Japan and South Korea,” the military adviser said. US President Donald Trump criticized the international nuclear deal of 2015, noting that it does not cover Iran’s ballistic missile program and its role in conflicts in the Middle East.

After withdrawing from a nuclear deal, the United States reintroduced sanctions against Iran. Tensions between Washington and Tehran intensified even more in recent weeks, after the United States announced that it was sending additional forces to the Middle East in response to the Iranian threat.

Meanwhile, foreign buyers increased the demand for oil from the Gulf of Mexico. This is evidenced by the fact that in the port of Louisiana Offshore Oil Port (LOOP) in just a few weeks six supertankers were loaded, which is twice as long as the December period. Export growth is supported by an increase in the volume of oil supplies to the Louisiana port, as well as a reduction in the cost of oil. On Monday, Mars Sour crude oil, produced by Royal Dutch Shell, was trading at a premium of $ 4.40 per barrel on US crude oil futures. In mid-February, this figure was $ 8.10 per barrel. In the light of the tightening of US sanctions against Venezuela and Iran, as well as during the period of the OPEC + agreement on the voluntary restriction of oil production, American oil, including Mars, is actively purchased by Asian importers.

Meanwhile, in Nigeria, a government regulator revoked six oilfield development licenses from five companies for “succession debts”. The regional media indicate that this action was carried out by the Oil Resources Directorate in pursuance of a presidential decree. Recently, Nigeria is increasingly collecting tax debts. In addition, officials have repeatedly stated that licenses will be subject to revocation for projects that are not actively involved. The end of the week was marked by a rather interesting initiative. The St. Petersburg International Commodity Exchange (SPIMEX) is discussing with Russian oil companies the launch of electronic auctions for the sale of oil for export. Over time, this system will allow you to start pricing with reference to the results of these transactions. TASS was informed about this by the head of the stock exchange Alexey Rybnikov on the sidelines of the St. Petersburg International Economic Forum.

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