Oil closed lower on international markets this Wednesday.

The August contract of WTI crude oil negotiated in New York Mercantile Exchange (Nymex) closed this Wednesday (1st) with a sharp drop of 1.32%, quoted at US$ 68.58/barrel. The September contract of Brent fell 1.89% in Intercontinental Exchange (ICE)The price of crude oil, trading at US$71.57/barrel, was pressured in this trading session by the prospect that negotiations between the United States and Iran are progressing, even with some disagreements. US President Donald Trump stated that negotiations with Iran are progressing positively and said he believes the country's denuclearization process "is progressing well." Tehran, however, reiterated that indirect meetings in Qatar are not taking place, with working groups only monitoring the implementation of the memorandum in order to negotiate a final agreement. Limiting further losses, the Energy Information Administration (EIA) The U.S. reported that oil inventories in the country fell by 3.775 million barrels in the week ending June 26, exceeding market projections of a 2.900 million barrel drop.

This text was translated by machine from Brazilian Portuguese.