U.S. new sanctions against Iran, the international oil prices rose on the 13th.
New economic sanctions the U.S. government against Iran, again tightening global oil supply, and geopolitical factors pushed oil prices. On the 12th, the U.S. Treasury announced that the entities involved in nuclear and ballistic missile programs of Iran more than 50 to impose sanctions. In addition, dozens of banks and transportation companies are secretly helping Iran from the impact of the EU ban on oil imports, and decided to freeze its assets. U.S. officials said that these new sanctions aim is to prevent Iran continues to export oil.
Data show that forced the United States and European countries, economic sanctions and the ban on oil imports, Iran's oil output has dropped to historic lows of 3.2 million barrels a day.
In addition, the UK North Sea oil production, partial disruption of the last few weeks in Norway oil workers strike has also led to reduction in global oil supply, pushed oil prices higher.
Economic data, released the same day the second quarter gross domestic product (GDP) growth rate, indicating the sixth consecutive quarter of decline is 7.6%. Although the growth rate is the lowest level in more than three years, but still better than the pessimistic expectations before the market, investor worries about the relief, and promote the risk of asset price inflation.
The United States, the U.S. Labor Department reported that U.S. producer price index in June rose 0.1. The Reuters / University of Michigan consumer confidence index in July from June's 73.2 decline to 72.0, below market expectations.
In addition, the dollar fell the same day, the weak dollar is also conducive to the rise in oil prices.
To the closing, the New York Mercantile Exchange, light sweet crude for August delivery rose $ 1.02 to close at $ 87.10 a barrel, or 1.18 percent. London Brent crude for August delivery rose $ 1.33 to close at $ 102.40 a barrel, or 1.32 percent. (Qiao Jihong)