Oil trade bets on US sanctions

- The oil price rises Friday evening worries that the United States will stop its agreement with Iran on nuclear power reduction in exchange for lifting sanctions.

American STI oil rose by more than 2% to $ 70, the highest level since the end of 2014. On May 12, the agreement that President Obama concluded with Tehran expires. If the deal is not renewed, there is not much going on for the oil price, says Scotiabank.

However, President Trump, urged by Israeli accusations that it continues to prepare a nuclear weapon and has always lied about phasing out its nuclear program, is expected to take additional sanction measures.

The oil cartel Opec previously tried to raise the price by producing less in the fourteen member countries. Since then the price has increased by 15%.

Speculators try to get supplies of oil to speculate with it. According to Bloomberg, large funds have already bet on a price that has to go to $ 100 per barrel of 159 liters.

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