The May contract of WTI crude oil negotiated in New York Mercantile Exchange (Nymex) It ended this Friday (10) with a sharp drop of 1.33%, quoted at US$ 96.57/barrel. The June contract for the Brent fell 0.75% in Intercontinental Exchange (ICE), traded at US$ 95.20/barrel. Both maturities lost more than 10% in the accumulated week. In this trading session, prices were pressured by cautious market optimism regarding the prospect of progress in diplomatic negotiations in the Middle East. Delegations from the United States and Iran are expected to meet this Saturday (11), in Pakistan, while Israel indicated a willingness to dialogue with Lebanon, increasing expectations of reduced tensions. President Donald Trump stated he was optimistic about a possible agreement, although he made reservations about proposals involving transit fees in the Strait of Hormuz. Despite the positive signals, the Strait of Hormuz remains largely closed, with Iran evaluating the possibility of charging for the passage of vessels — a measure that faces international resistance. Another factor influencing prices was the expectation that the US will extend an exemption that allows the purchase of sanctioned Russian oil. According to authorities interviewed by Reuters, the measure could release up to 100 million barrels of oil, a volume equivalent to almost a day of global production, increasing supply in the international market.
This text was translated by machine from Brazilian Portuguese.