The price of oil North sea Brent reached its highest level since November 2014. In the course of trading on the London exchange ICE on Thursday, may 17, the price of futures for July exceeded 80 USD per barrel and amounted to 80,18 dollar. During the day it dropped just below that psychologically important mark — up to 79.92 dollar, 80 cents higher than the previous day.

Photo: Reuters

The cost of one barrel of the American WTI for the same hours increased by 54 cents to 71,88 a dollar. The figure on the same day, also reached a maximum since November 2014 but then declined slightly.

Analysts attribute the new price increase on the oil situation in the world, in particular with fears that market supply of oil will decrease because of the US sanctions against Iran. Commerzbank experts predict a continuation of the trend . Analysts at Goldman Sachs warn that even an increase of oil production in the US will not be able to compensate for the possible decline of supply from Iran.

A day earlier, the US administration announced that the volume of us oil production last week reached a new record in среднем10,72 million barrels per day.