
Iran Focus
London, 4 May – Oil prices evened out on Friday, following recent gains, but global supplies remain limited as the market prepares for Donald Trump’s decision on the fate of the 2015 nuclear deal.
On Monday, April 30, Brent crude oil hit a 3-1/2 year closing high of $75.17, but by Friday, this has dropped by 30 cents to $73.32 a barrel. US light crude had also dropped 20 cents to $68.23.
ANZ analysts Daniel Hynes and Soni Kumari wrote: “Rising geopolitical risks have been a big factor behind oil’s strong rise this year. The extent of the rally would have been significantly weaker if not for recent tightness in the market. We expect the market to tighten even further in H2 2018.”



