Oil prices plunged more than 5% this morning amid US efforts to negotiate with Iran.

At 9am (Brasilia time) this Wednesday (25), the May contract of WTI crude oil recorded a significant drop of 5.27% in New York Mercantile Exchange (Nymex), quoted at US$ 87.42/barrel. The June contract for the Brent It fell 5.59% in Intercontinental Exchange (ICE), trading at US$94.63/barrel. So far this week, the fuel has accumulated losses of 10.95% and 11.03%, respectively. 

In the last trading session (24)The energy commodity closed up 4.79% on the Nymex, at US$92.35/barrel, and advanced 4.49% on the ICE, to US$100.23/barrel. 

This morning, fuel prices were pressured by the market's reaction to rumors that… United States They sent a 15-point proposal to Iran, aiming to end the conflict in Middle East.

Furthermore, according to a note seen by Reutersthe administration of Tehran informed United Nations Security Council and to International Maritime Organization that “non-hostile vessels” may navigate the Strait of Hormuz, provided that it is done with authorization from the authorities of the Persian country.

Meanwhile, oil exports through the port of Yanbuno Red Seathey advanced to almost 4 million barrels per day (bpd) Last week saw a sharp increase compared to the period before the conflict.

This text was translated by machine from Brazilian Portuguese.