Brent oil price is above $83 per barrel

Brent oil price is above $83 per barrel

According to the latest data on the website, Brent oil is currently trading at $83.10. The value of WTI oil is $76.34 per barrel.

The focus of traders at the beginning of the week is still US monetary policy, the Mina agency reports.

After data on personal consumption expenditures in January, markets fear that the central bank will be forced to raise interest rates longer than expected to curb inflation.

Thus, the index of expenditures for personal consumption in the United States of America increased by 0.6 percent in January, three times more than in December, which hints at the strengthening of price pressures.

Gazprom wants to enter the Iranian market

Gazprom CEO Alexey Miller and Iran’s Ambassador to Russia Kazim Jalali discussed issues of energy cooperation.

On July 19, 2022, Gazprom and the National Iranian Oil Company signed a memorandum on strategic cooperation. This contract refers to various aspects, such as the development of Iranian gas and oil fields, trading of natural gas and oil derivatives, implementation of large and small projects concerning liquefied petroleum gas, construction of gas pipelines and engaging in scientific and technological cooperation.

Ahmen Asadzadeh, Iran‘s Deputy Oil Minister, declared that Russia had started to work on six oil and two gas fields in the country, remarking that Gazprom gave afavorable possibility of sending through Iran gas to neighboring countries, including Pakistan and those in the Persian Gulf.