Oil prices fall after US allies announce efforts to protect the Strait of Hormuz.

At 8:45 am (Brasilia time) this Friday (20), the May contract of WTI crude oil recorded a sharp drop of 1.08% in New York Mercantile Exchange (Nymex), quoted at US$ 94.60/barrel. So far this week, the fuel has accumulated a loss of 2.35%. 

The due date for the same month is… Brent It fell 0.75% in Intercontinental Exchange (ICE), trading at US$107.84/barrel. On the other hand, the contract has accumulated a gain of 4.52% over the week. 

In the last trading session (19)The energy commodity stabilized with an upward bias (+0.09%) on the Nymex, at US$ 95.55/barrel, and 1.18% on the ICE, at US$ 108.65/barrel. 

This morning, oil prices were pressured by the market reaction to the joint statement from… Great Britain, France, Germany, Netherlands and Japan to stand ready to "contribute with appropriate efforts to ensure safe passage through Strait of Hormuz.

Furthermore, investors are also continuing to react to the statement from the US Treasury Secretary. Scott Bessentthat the country can release a new quantity of oil from emergency reservesIn addition to lifting sanctions imposed on Iranian fuel held in tankers.

By limiting further losses, Israel and Iran They exchanged attacks during the early morning hours, following an attack on a oil refinery in Kuwait. 

This text was translated by machine from Brazilian Portuguese.