Oil quotes moved to growth, Brent rose to $97.64 per barrel

Oil prices moved to growth during trading on Tuesday afternoon.

The cost of October futures for Brent on the London ICE Futures exchange by 13:50 Moscow time on Tuesday is $97.64 per barrel, which is $0.99 (1.02%) higher than the closing price of the previous session.

The price of futures for WTI for September at the electronic trading of the New York Mercantile Exchange is $91.55 per barrel by this time, which is $0.79 (0.87%) more than the final value of the previous session.

The market is following developments around talks to revive the Iranian nuclear deal, which could lead to the release of additional barrels of oil. A day earlier, Western media reported that EU diplomats drafted the final text of the document on the restoration of the nuclear deal with Iran and believe that now the parties must make a final decision.

„The US and Iran have a few weeks to decide whether they will renew a 2015 deal that would allow Iran to export oil again,” said Vivek Dar, an analyst at Commonwealth Bank.

In addition, investors are looking forward to the publication of the monthly oil market forecast by the Energy Information Administration (EIA) of the US Department of Energy, which will take place later on Tuesday.

Camille Nicholls

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