Closing of Crude Oil Prices Rise Yesterday Weekend

PT Equityworld - Crude oil prices rose in late trading the weekend, on Saturday morning (04/02) after the United States imposed sanctions on some Iranian individuals and entities, a few days after the White House put Tehran on attention due to more than a ballistic missile test.

US crude oil futures price of West Texas Intermediate front-month contract settled up 29 cents, or 0.5 percent, at $ 53.83 per barrel. For the week, the contract rose about 1 percent.

Weekly increase occurred after sentiment tug of war between the promised cuts from the Organization of Petroleum Exporting Countries and concerns over rising US shale oil production.

Brent crude futures rose 24 cents to $ 56.80 a barrel at 14:34 ET (1934 GMT). Brent is on track to rise about 2 percent this week, the first weekly rise significantly this year.

US crude oil futures volume is relatively low on Friday, with about 335,000 contracts changed hands by 12:15, on track to fall short of the 200-day moving average to 528,000 contracts.

This is the first step by the government of President Donald Trump against Iran. It follows a pledge during the 2016 campaign to confront Tehran.

Under the sanctions, announced by the US Treasury Department, 13 individuals and 12 entities can not access the US financial system or deal with a US company.

A senior US administration said Friday that sanctions is the first step in response to the provocative behavior of Iran
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