Oil prices rose in Europe on Tuesday to recover from a one-week low on the first gain in four days as initial market data showed further declines in Iran’s exports as countries continued to respond to US pressure to cut and stop buying Iranian oil before economic sanctions took effect next month.

By 0915 GMT, US crude oil rose to $ 74.95 per barrel from the opening level of $ 74.19, recording a high of $ 75.00 and a low of $ 74.17.

Brent crude oil rose to $ 84.95 a barrel from the opening level of $ 83.87 and recorded a high of $ 85.03 and a low of $ 83.71.

US crude fell yesterday by 0.2%, its third consecutive daily loss, hitting a week low of $ 73.07 a barrel. Brent contracts lost 0.3% and $ 82.65 per barrel, the lowest since October 1, Saudi Arabia to increase production to compensate for Iran’s potential shortfall.

In preliminary data on the market, Iran exported about 1.1 million barrels per day of crude during the first week of this month, and these shipments are about 1 million barrels less than what was exported last month.

Iranian exports totaled 2.5 million barrels per day in April, before the United States pulled out of Iran’s nuclear deal in May and re-imposed sanctions on Tehran.

The current total of Iranian crude exports is the lowest for Iranian exports since February 2016, especially as most major countries continue to respond to US pressure to cut and stop buying oil from Iran.

With US sanctions coming into force early next month, Iran’s supplies will be further reduced, which could cause a supply shortfall in the market, so the United States is trying to compensate for the potential shortages, both domestic production and pressure on OPEC and Russia to boost output.