Oil closes Wednesday with a sharp drop.

The June contract of WTI crude oil negotiated in New York Mercantile Exchange (Nymex) It ended this Wednesday (13) with a sharp drop of 1.13%, quoted at US$ 101.02/barrel. The July contract of Brent fell 1.98% in Intercontinental Exchange (ICE), trading at US$105.63/barrel. Prices were pressured by the possibility of a technical correction by investors, given the robust gains recorded in the last three sessions. The decision by [unclear – possibly "the government"] also weighed on prices. Organization of the Petroleum Exporting Countries (OPEC) to cut its forecast for global oil demand growth in 2026 by 200,000 barrels per day, to 1.17 million barrels per day (bpd). International Energy Agency (IEA)In turn, it now forecasts that demand will fall by 420,000 bpd this year, compared to a previous estimate of an 80,000 bpd drop. Limiting further losses, the Energy Information Administration (EIA) It was reported that US oil inventories fell by 4.306 million barrels in the week ending May 8, to 452.9 million barrelsThe market also continued to monitor developments in the Middle East conflict, while awaiting further information on US President Donald Trump's trip to China.

This text was translated by machine from Brazilian Portuguese.