Oil: Brent falls after the uptrend

Brent is falling after a seven-week earnings streak that pushed crude to its highest level since 2014.

Contracts in London fell 0.8% after previously reaching $ 94 a barrel.

A Texas refinery with 593,000 barrels a day closed due to the weather, and prices rose after the news.

The margins for heating oil have risen to the strongest level since April 2020.

The traders also continue to closely monitor negotiations on a nuclear deal with Iran, with diplomats expected to return to Vienna on Tuesday.

On Friday, the United States signed several waivers of sanctions related to Iran’s civilian nuclear activities, although Tehran said it still needed guarantees from Washington to revive the deal.

Brent for April delivery fell 0.8% to $ 92.50 a barrel, while West Texas Intermediate for March delivery fell 1.3% to $ 91.16 a barrel.

Source: Capital

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