Oil prices plummeted on the international market this Tuesday.

The May contract of WTI crude oil negotiated in New York Mercantile Exchange (Nymex) The June contract for the oil ended this Tuesday (14) with a significant drop of 7.87%, quoted at US$ 91.28/barrel. Brent fell 4.59% in Intercontinental Exchange (ICE)Oil is trading at US$94.79/barrel. In this trading session, energy prices were pressured by optimism surrounding peace negotiations between the United States and Iran in the coming days, which could lead to the opening of the Strait of Hormuz, one of the world's main waterways for transporting crude oil and refined products. According to a Reuters report, US and Iranian negotiating teams may return to Islamabad, Pakistan, this week. A US official also stated that dialogue to try to reach an agreement continues, while Pakistani Prime Minister Shehbaz Sharif said that efforts are still ongoing. Despite the short-term uncertainty, investors believe that a willingness to talk between the parties helps keep oil prices below the US$100 per barrel mark.

This text was translated by machine from Brazilian Portuguese.