• Ar
  • Es
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Feature
Videos
Infographs
In Pictures
  1. Home
  2. News
  3. Politics
  4. Oil Prices Rise as Iran Stall Talks
Politics

Oil Prices Rise as Iran Stall Talks

  • By Al Mayadeen
  • 21 Jun 2021 13:12

Oil prices rose on Monday, supported by strong summer demand, and US West Texas Intermediate crude for July delivery recorded $71.94, an increase of 30 cents, or 0.4 percent.

  • US West Texas Intermediate crude for July delivery recorded $71.94.
    US West Texas Intermediate crude for July delivery recorded $71.94.

Oil prices rose on Monday, boosted by strong summer demand and a pause in talks to revive the nuclear deal, which could signal a delay in the resumption of supplies to OPEC member Iran.

By 06:22 GMT, Brent crude for August delivery was up 23 cents, or 0.3%, to $73.74 a barrel.

US West Texas Intermediate crude for July delivery recorded $71.94, an increase of 30 cents, or 0.4%.

Both benchmarks rose over the past four weeks amid optimism about the pace of global vaccination and an improvement in summer travel.

The recovery also raised premiums for spot crude delivery in Asia and Europe to their highest levels in several months.

"Recovering the demand in the northern hemisphere in summer is strong, adding further sharp declines in inventories to market concerns," ANZ analysts wrote in a note.

Negotiations to revive the Iran nuclear deal were suspended on Sunday after Ebrahim Raisi won the presidential elections. Two diplomats said they expected a 10-day layover.

  • US dollar
  • Oil prices
  • Iran

Trending Now

All
A Venezuelan oil worker walks in the El Palito refinery during the arrival of Iranian oil tanker Fortune near Puerto Cabello, Venezuela, May 25, 2020 (AP)

Iran signs $80bln worth of oil deals with foreign investors: Tehran

Adviser to Iran's Supreme Leader in international affairs, Ali Akbar Velayati

Iran official: China, Russia dump of US dollar is 'very good progress'

Most Read

Haaretz

Mossad agent killed in Italy part of anti-Iran mission: Israeli media

  • Europe
  • 3 Jun
Actuating an Israeli ‘Solution’ – via an al-Aqsa Emergency

Actuating an Israeli ‘Solution’ – via an al-Aqsa Emergency

  • Analysis
  • 4 Jun
Israeli occupation forces are informed of the details of the operation near the Ajwa border crossing in Occuppied Palestine, June 3 2023. (Reuters)

'Unexpected humiliating blow': Israeli media on Egypt border operation

  • Palestine
  • 4 Jun
Press or propaganda? How Western-propped media groups drive public opinion, policy, and regime change around the world

Press or propaganda? How Western-propped media groups drive public opinion, policy, and regime change around the world

  • Analysis
  • 4 Jun

Read this

All
This Thursday, June 14, 2018, file photo, shows the FBI seal at a news conference at FBI headquarters in Washington. (AP)
US & Canada

FBI helped Ukraine censor social media accounts: Twitter files

  • 7 Jun
James G. Rickards. (WIkipedia)
Europe

Ex-CIA advisor predicts date when US dollar hegemony will collapse

  • 7 Jun
NATO Secretary General Jens Stoltenberg holds a news conference at the alliance's headquarters in Brussels, Belgium November 16, 2022. (Reuters)
Europe

No point in discussing NATO bid if Kiev loses in conflict: Stoltenberg

  • 7 Jun
Front page of The Daily Telegraph, leading with stories about the publication of the book "Spare". (AFP)
Europe

Daily Telegraph, Sunday Telegraph newspapers put up for auction

  • 7 Jun
Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS