Oil prices are stable near $110 per barrel

At the beginning of the new trading week, the price of oil remains stable after a steady rise on Friday, caused by signals of a weakening of inflationary pressure in the United States. 

The current Brent oil quote is $109.50 per barrel (Friday's maximum at $110). North American WTI oil is trading near $107.80 per barrel (Friday's maximum is $108.50). 

At the beginning of the week, the focus of the markets is on the G7 summit of heads of state, at which, most likely, measures to restrict the import of Russian energy resources will be discussed.

The leaders of the Group of Seven countries continue to discuss measures that would allow introducing a certain ceiling for the cost of oil exported from Russia. One of the options is to insure tankers with Russian oil only if it is sold at a price below a certain level.

The summit will also raise the prospect of resuming negotiations on a nuclear deal with Iran. As it became known, the Foreign Minister of the European Union has already met with senior officials of Tehran in an attempt to restart the stalled negotiations. If there is progress in this area, a significant part of Iranian oil will be able to return to the market.