Oil prices are rising with the imposition of new US sanctions against Iran

Oil prices rose for the second day, after the administration of US President Donald Trump introduced new sanctions against Iranian oil flow, taking into account this step as a return to the “maximum pressure” strategy against Tehran. The “West Texas” mediator rose to about $ 71 a barrel after it scored a 0.4% increase on Monday, while Brent -rough closed nearly $ 75. The United States imposed new restrictions on brokers, ship companies and individuals claiming to be linked to illegal charges of Iranian oil, targeting 22 people and 13 ships. The entities subject to sanctions are distributed in Iran, the UAE, Hong Kong, India and China. RAW is a witness to a turbulent start who saw that oil prices were a turbulent start for this year, as it was raised at the beginning due to cold weather and a previous round of US sanctions, and then decreased due to concerns related to customs tariffs after US President Donald Trump held office. Trump said at a press conference that the customs duties that are to be imposed on Canada and Mexico next month – procedures that can affect oil shipping and increase costs – are still “on time”. Besides sanctions against Iran, traders face a number of challenges associated with supplies. While the OPEC+coalition is again expected to postpone the increase in production, Iraq seeks to resume oil flow through pipelines from Kurdistan, and negotiations to end the war in Ukraine can affect Russian oil delays. In London, the International Energy Week conference will begin later Tuesday, as both will speak the head of the International Energy Agency Birol, and executive officials of the large energy companies about future expectations of oil markets.