Oil prices fell sharply on Friday morning.

At 9:20 am (Brasilia time) this Friday (29), the July contract of WTI crude oil recorded a sharp drop of 1.15% in New York Mercantile Exchange (Nymex), quoted at US$ 87.88/barrel, with an accumulated loss of 9.15% in the week and 11.40% in the month. The August contract for Brent It fell 1.40% in Intercontinental Exchange (ICE), traded at US$ 91.40/barrel – weekly and monthly devaluation of 8.90% and 11.70%, respectively. Yesterday (28), the WTI It rose 0.25%, to US$88.90/barrel and the Brent Oil prices rose 0.49% to US$92.70/barrel. This morning, fuel prices were pressured by reports that the United States and Iran had reached an agreement the previous day on a possible extension of the ceasefire and a suspension of navigation restrictions through the Strait of Hormuz. This information has not been officially confirmed by US President Donald Trump. Iranian state media, in turn, said that the negotiations are not yet fully finalized. Japan, which is heavily dependent on Middle Eastern oil, recorded a 66% drop in fuel imports last month compared to April 2025, the lowest level for the month since 1962.

This text was translated by machine from Brazilian Portuguese.