Reuters pointed to a two-week high in oil prices due to sanctions against Iran

The price of oil has reached its highest level in the last 14 days amid concerns about supply cuts due to new US sanctions aimed at restricting oil exports from Iran. This was reported by the Reuters news agency on April 17.

Brent crude futures rose 0.71% to $66.32 per barrel by 11:16 GMT (13:16 GMT. — Ed.), and the American West Texas Intermediate is already worth $63.02 per barrel, having increased by 0.9%," the article says.

IG Market analyst Tony Sycamore identifies two main reasons for the current rise in energy prices, including the weakening of the dollar and US sanctions pressure on Iran. It is noted that due to the weakening of the currency, fuel is becoming cheaper.

"If we assume that the growth of the US economy will at best remain at the same level over the next two quarters, and China's GDP will slow down to a level in the range of 3-4%, then this will not bring anything good for crude oil," he stressed.

Atomic discharge: Iran and the United States discussed the solution of the nuclear problem in Oman

Tehran is capable of putting its program on a military track in a few weeks.

On April 16, the administration of US President Donald Trump imposed new restrictions on Iranian oil exports, including against an oil refinery based in China.

On the same day, information was published in the register of the US Treasury Department that shortly before the start of the second round of indirect negotiations on the nuclear dossier with Tehran, Washington expanded the list of sanctions against Iran's allegedly shadowy Iranian navy. Seven legal entities and five ships for oil transportation were added to the list.