Oil is traded at price close to four-year maximum, as investors doubt OPEC’s ability to replace reducing Iran’s export, Bloomberg reports.

Futures in New York rose by 0,2% after they closed at the highest level since November 2014 on Monday. Export from Iran fell the lowest level in two and a half years ahead of US sanctions. Meanwhile, new agreement between the US, Canada and Mexico, which will replace NAFTA, eased tension in global trade.

Oil price gained 16% from the middle of August, as gaps in supply from Iran to Venezuela continue putting pressure on the market. At last meeting OPEC also was not full of enthusiasm to raise output.

WTI oil grew to $75,47 per barrel. Yesterday it gained 2,8%. Brent oil fell to $84,82 per barrel after it grew to $84,98 yesterday.

Meanwhile, Russia increased oil production to post-Soviet level.