September's contract WTI crude oil negotiated in New York Mercantile Exchange (Nymex) closed this Friday (31) with a strong increase of 1.29%, quoted at US$ 84.67/barrel. The October contract for the Brent advanced 1.21% in Intercontinental Exchange (ICE), trading at US$ 87.93/barrel. For the week, the contracts accumulated gains of 3.53% and 2.29%, respectively.
In July, WTI crude oil rose by 21.8%, while Brent crude advanced by 23.5%.
In this auction, Fuel prices were boosted by investor reaction to reports that Iran's Islamic Revolutionary Guard Corps prevented two oil tankers from crossing the Strait of Hormuz, while four others changed course. Additionally, a drone attack caused fires on two gas ships in the port of Damietta, Egypt, posing a new threat to the Suez Canal, one of the region's main trade routes. US President Donald Trump said Iran will no longer have "any" military capability and that he is losing confidence in a deal with Tehran. In Eastern Europe, the Ukrainian military reported that the Russian Volgograd oil refinery was hit overnight, causing a fire at the facility. On the radar, the meeting of [unclear text] takes place this Sunday (2). Organization of the Petroleum Exporting Countries and allies (OPEC+)The market expects a halt to the cartel's increases in production quotas.
This text was translated by machine from Brazilian Portuguese.