Oil prices surge more than 7% after US-Iran negotiations fail.

At 8:56 am (Brasilia time) this Monday (13), the May contract of WTI crude oil jumped 7.67% in New York Mercantile Exchange (Nymex), quoted at US$103.98/barrel. The June contract for the Brent It advanced 7.35% in Intercontinental Exchange (ICE), traded at US$ 102.20/barrel. In the last session (10), the energy commodity fell 1.33% in Nymex, at US$ 96.57/barrel, and 0.75% in ICEOil is at US$95.20/barrel. This morning, the market is reacting to the lack of agreement in negotiations held in Pakistan over the weekend, frustrating expectations of diplomatic progress between Washington and Tehran. This is increasing fears of a prolonged supply crisis, especially given the continued blockade of the Strait of Hormuz, which has already lasted more than a month. According to market estimates, the conflict has already resulted in cuts of approximately 11 million barrels per day in supply from Gulf producers, increasing the risk of a global imbalance between supply and demand. Given this scenario, expectations are growing that… International Energy Agency (IEA) coordinate new release of strategic stocks to contain the price surge. On Sunday (12), the president Donald Trump He stated that the US Navy will begin blockading the Strait of Hormuz. US Central Command (CENTCOM) It was reported that the operation will begin this Monday and will cover all maritime traffic entering or leaving Iranian ports, including facilities in the Persian Gulf and the Gulf of Oman. According to the US government, the measure will be applied "impartially" to vessels of all nationalities. With no prospect of a resolution in the short term, investors are again pricing in a scenario of prolonged global energy shock, with potential impacts on inflation, economic activity, and logistics chains on an international scale.

This text was translated by machine from Brazilian Portuguese.