São Paulo – This Thursday (17) saw Brent North Sea crude reach USD 80.18, its highest price since November 2014. The information was made public before 7 am (BRT) today. At around 7:10 am, the price slid to BRL 79.79, which is still up USD 0.51 from the Wednesday (16) price, Arabian Business reported.
Global oil supplies could be hit by President Donald Trump’s decision to pull the US out of the Iran nuclear deal, and also by falling production in crisis-hit Venezuela, Arabian Business quoted the International Energy Agency as saying on Wednesday.
Prior to this Thursday’s price peak, Brent crude had been on its way up, thanks to steady growth in demand and to the agreement by Organization of Petroleum Exporting Countries (OPEC) members and non-members to slash output.
Translated by Gabriel Pomerancblum