Oil prices rose based on fears of oil supply shortage

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Oil prices rose on Monday, as traders express concern over the possible formation of a supply deficit due to US sanctions against Iran. The market reacted positively to the decision of the Ministerial Monitoring Committee of OPEC + over the past weekend to continue the implementation of the agreements reached in June. Saudi Arabian Energy Minister Khalid al-Falih considers the oil market to be fairly balanced. On Monday at 14:27 Moscow time, the price of November futures for Brent crude oil rose by 1 dollar 87 cents to 80 dollars 67 cents per barrel. The November futures contract for WTI crude rose in price by 1 dollar 20 cents to 71 dollars 98 cents per barrel.

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