Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Oil Up as G7 Debate Iran Nuclear Deal

Commodities Jun 27, 2022 01:01AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

By Zhang Mengying

Investing.com – Oil was up on Monday morning in Asia as investors are looking for more clues from the G7 meeting this week on Russian oil exports and a revival of the Iran nuclear deal.

Brent oil futures inched up 0.06% to $109.16 by 12:56 AM ET (0456 GMT) and crude oil WTI futures stabilized at $107.62. Oil prices remained well supported above $100 a barrel as crude and oil product supplies remained tight after the West posed sanctions on Russian oil.

Leaders of the Group of Seven (G7) are expected to discuss ways to tackle rising energy prices. Measures include a possible price cap on Russian crude and oil products exports, which might curb Russia’s revenue and at the same time reduce the damage to other economies.

“It’s unclear whether a price cap will achieve this outcome,” Commonwealth Bank of Australia analyst Vivek Dhar said in a note.

“There’s still nothing stopping Russia from banning oil and refined product exports to G7 economies in response to a price cap, exacerbating shortage conditions in global oil and refined product markets.”

G7 will also discuss the prospect of reviving the Iran nuclear talks after the European Union’s foreign policy chief tried to unblock the stalled negotiations, according to Reuters.

“This week, traders’ focus might be on a potential resumed Iran nuclear talk, which could lead to a revival of Iran’s oil exports,” CMC Markets analyst Tina Teng told Reuters.

Oil Up as G7 Debate Iran Nuclear Deal
 

Related Articles

Oil rises on renewed gasoline demand, weak dollar
Oil rises on renewed gasoline demand, weak dollar By Reuters - Aug 10, 2022 7

By David Gaffen NEW YORK (Reuters) -Oil prices rose on Wednesday, rebounding from losses early in the session, helped by encouraging figures on U.S. gasoline demand and as...

Gold Hits 5-Week High on Softening U.S. Inflation 
Gold Hits 5-Week High on Softening U.S. Inflation  By Investing.com - Aug 10, 2022

By Barani Krishnan Investing.com -- U.S. inflation is retreating as many expected it to. The question is where will gold go from here. Gold prices flew to five-week highs on...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email