The most important and latest news in Egypt today: Thursday, February 17, 2022
With the details of the news: Egypt Today News – Cairo: Oil is falling after France and Iran talk about the proximity of a nuclear agreement
Today’s breaking news | Oil fell more than 2% in early Asian trading on Thursday after France and Iran said the parties were close to reaching a consensus to save Iran’s 2015 nuclear deal with world powers, countering the impact of continuing concerns about the situation in Ukraine.
US West Texas Intermediate crude fell $2.50, or 2.7 percent, to $91.16 a barrel by 0058 GMT, after closing up 1.7 percent in the previous session.
Brent crude fell $2.43, or 2.6 percent, to $92.38, after ending the previous day’s trading, 1.6 percent higher.
Claudio Galimberti, vice president of consultancy Rystad Energy, said: “The positive news about the US-Iran nuclear negotiations provides a much-needed calm to global oil prices, as the possibility of new crude supplies narrows the supply-demand deficit.”
France said that the decision to save the Iranian nuclear agreement concluded in 2015 with world powers has only days left, and that it is now up to Tehran to take the political decision, while Tehran called on Western powers to be “realistic.”
On the Arab level, Dubai crude oil rose to a record level this week, while price differences in the spot market for Russian crude, loaded April, jumped to their highest level in two years in Asia, as prices returned; levels before the coronavirus pandemic.
And supplies became tight globally, with the Organization of the Petroleum Exporting Countries (OPEC) and its allies delaying their commitments to increase production by 400,000 barrels per day each month.
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