The International Atomic Energy Agency (IAEA) could issue its report on Iran’s compliance with an agreement to curb its nuclear programme during a Friday meeting in Vienna, potentially triggering the lifting of Western sanctions.Others were more concerned about the impact of new exports from Iran. Earlier on Friday, it fell to $29.Still, influential US bank Goldman Sachs on Friday maintained its $40 price forecast for US crude for the first half of 2016.The February Brent contract, which expired on Thursday, closed higher for the first time this year at $31.15 at $29.73 a barrel.53 GMT, after posting the first significant gains for 2016 in the previous session.43, the lowest since February 2004.US crude futures were 5 per cent lower at $29.” Commerzbank cut its 2016 forecast for oil prices, changing its year-end expectation for Brent to $50 per barrel, down from a previous forecast of $63.

The key theme for 2016 will be real fundamental adjustments that can rebalance markets to create the birth of a new bull market, which we still see happening in late 2016,” Goldman said in a report. "That means a drop toward $25 is quite possible, but not much lower than that.Brent crude futures plunged more than 4 per cent to near 12-year lows on Friday as the market braced for increased Iranian oil exports, with the lifting of international sanctions possible China injection molding screw head and rings Suppliers within days Brent crude futures plunged more than 4 per cent to near 12-year lows on Friday as the market braced for increased Iranian oil exports, with the lifting of international sanctions possible within days. The contract earlier hit $29.

In the very short term, another price drop cannot be excluded in particular after sanctions against Iran are being lifted,” Commerzbank analyst Cars-ten Fritch told Reuters Global Oil Forum.39, the lowest since November 2003..03 per barrel.64 per barrel at 10

Hide Comments | Add Comment