Oil with weekly rise after a volatile Friday session

Oil is forecasting $ 1 up on Friday, taking into account the weekly increase, supported by the weakened concerns about temporary sporazaumenie with Iran on nuclear developments will lead to a rapid increase in Iranian oil supplies.

Data this week abundant global supplies includes biggest jump in US stocks since 2001, the supersaturation of Nigerian crude oil production of Saudi Arabia reaching record levels, limited the rally.

Brent rose $ 1.09 to $ 57.69 a barrel by 9:52 Northamerican Time (13:52 Greenwich Mean) on his way to a three-week growth of recent 4. US crude was up $ 0.49 to $ 51.28.

Recent agreement with Iran does not open the floodgates for significant return of Iranian oil on the market, as many feared, said Harry Tchilinguirian, CEO of the Department of Strategy of commodity markets and oil of BNP Paribas.

World powers and Iran announced a temporary agreement last week. But on Thursday the Supreme Leader of Iran Ayatollah Ali Khamenei urged all sanction against Iran be released the same day as the final agreement, while Americans insist sanctions be raised gradually.

The price of Brent reduced to half of $ 115 reached last June subsidence which deepened in November after OPEC decided not shortens production in order to defend its market share. Top exporter Saudi Arabia was the driving force behind this change of policy.

While OPEC members called redundancy to enzyme activity is elevated prices, Saudi Arabia has given no sign of rethinking. Oil minister Ali al-Naimi reported Thursday that Riyadh increased its production of crude oil to 10,3mil. barrels per day, which is a record high level of quantity.

Additional pressure on prices proved report last week showing the US government for the inner growth stocks of crude oil by nearly 11 million barrels, the largest growth in the last 14 years.

Surplus of Nigerian crude oil also increased. This is especially Mechi situation Brenta because Nigerian crude oil price is in his opposition