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Oil prices fell today as Iran agreed to dismantle its nuclear program , starting on January 20 in accordance with the terms of the deal , which will facilitate some sanctions against the fifth- largest oil producer in OPEC.
WTI crude oil fell 1.2 percent , after the "Six" and Iran said the launch of the first step, the Geneva agreements January 20, 2014 . Head of EU diplomacy , Catherine Ashton stated that "six" prompt IAEA monitoring of Iran's nuclear program in the framework of the Geneva agreements .
The first tranche of $ 550 million of the $ 4.2 billion frozen Iranian assets abroad will be paid to Iran in early February .
At the same time, some analysts believe that the current developments around Iran does not involve rapid recovery in oil exports from the country , which hinders reduction of quotations .
"The news on Iran negatively affects the cost of raw materials. However, this year we should not expect significant growth in exports, as was achieved only an interim arrangement , "- said the chief analyst Commodities bank SEB AB Bjorn Shildrup .
Meanwhile, adding that investors in the oil market also continue to win back the data from the U.S.. On Friday, the country's Ministry of Labor reported that the number of jobs in non-agricultural sectors of the economy grew by only 74,000 , with the forecast increase of 194 thousand.
It is also worth noting that hedge funds have become less optimistic about the WTI oil for the first time in six weeks, as fuel stocks rose . Money managers reduced the number of net long positions by 8.6 percent for the week ending January 7 , showing the largest decline since June. So-called short positions were at maximum in April.
February futures price of U.S. light crude oil WTI (Light Sweet Crude Oil) fell to $ 93.38 per barrel and then fell to $92.14 a barrel on the New York Mercantile Exchange.
February futures price for North Sea Brent crude oil mixture fell 15 cents to $ 107.13 a barrel on the London exchange ICE Futures Europe.
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