Brent at $ 65.54 a barrel due to the rigidity of the American -Iranian negotiations

Oil prices increased slightly at the settlement today, Monday, when the indicators defeated the occurrence of stalemate in the American -Iranian nuclear talks on the impact of Moody’s credit rating agency for US sovereign debt.

Brent crude futures rose 13 cents to $ 65.54 a barrel, while US West Texas Intermediate crude rose by 20 cents, to $ 62.69 a barrel upon settlement. Both of the two times witnessed an increase of more than 1% last week.

Iranian official media reported statements to the Deputy Foreign Minister, Majeed Takht Rwanji, in which he confirmed that the nuclear talks will not succeed if Washington continues to pressure to stop Iran’s nuclear activities. Alex Hood, an analyst at StoneX, explained that the current stalemate is the weakest hopes of an agreement that might reduce US sanctions and increase Iranian oil exports by 300 thousand and 400 thousand barrels per day, stressing the exclusion of this increase now.

Moody’s reduction in American credit rating also caused the power of the world’s largest oil consumer economy. This was accompanied by the slowdown in industrial production growth and retail sales in China, the largest oil importer. Giovanni Stonovo, from UBS, pointed to the limited impact of the vulnerable Chinese data on oil prices.

The market also faces pressure from President Donald Trump’s threats to impose customs duties. John Koldov described Ajin Capital as this situation as going on continuous fluctuations in oil prices, noting that investors follow up on the developments of customs duties and Iranian -American negotiations, in addition to peace talks in Ukraine that Russian President, Vladimir Putin, confirmed that they are going positively after a phone call with Trump.