The analyst named the reasons for the fall in oil prices

Oil prices began to fall at the time of Iran's retaliatory strike on the American base in Qatar and continue to decline slightly. However, there is no reason to panic. Vladimir Demidov, an independent expert on the resources and energy market, expressed this opinion on Tuesday, July 1.

On the eve of June 30, Brent crude oil prices dropped below $ 66 per barrel, IA Regnum reports.

According to Demidov, oil has lost the speculative delta it gained during the conflict between Iran and Israel. Currently, there is no reason to talk about the closure of the Strait of Hormuz or the loss of the share of Iranian oil in the global balance, therefore, fuel shortages are not expected.

"Yes, at the same time, we have an OPEC+ plan to increase production, but there are other reasons why the price of oil should rise, for example, the latest data on reserves in the United States. The federal reserve is at minimum levels, which usually leads to higher oil prices. At the same time, it is the season of increased demand, that is, there are factors for and against growth," the expert said in an interview with Lenta.Ru .

He added that at this stage, traders are working to lower oil prices.

Demidov believes that if oil suddenly falls, it will be a small drop at the time of the increase in production by OPEC+ countries, but it will be a speculative drop, and then the price will return.

Mistake 500: How will the idea of imposing duties on Russian oil importers affect the global economy

The increase in rates will lead to the fact that buyers of Russian hydrocarbons will cease any trade with the United States.

Earlier, Republican Senator Lindsey Graham (listed as a terrorist and extremist by Rosfinmonitoring) said that Russia's trade partners who do not help Kiev are waiting for 500% US duties, RT reports. The project, among other things, will be directed against India and China, which import Russian oil. 360.ru .

On June 26, Russian oil sharply fell in price amid a cease-fire between Iran and Israel, NSN reports.

On the night of June 24, the parties agreed on a truce. On the same day, the price of Russian Urals crude oil on the FOB Primorsk basis decreased by $8.95 to $56.51 per barrel, while a similar drop to $56.66 occurred on the FOB Novorossiysk basis. The cost of ESPO premium oil on FOB Kozmino terms decreased by $7 to $63.48 per barrel.