The July contract of WTI crude oil negotiated in New York Mercantile Exchange (Nymex) It ended this Friday (15) with a slight increase of 4.23%, quoted at US$ 101.02/barrel. The same month's expiration of Brent advanced 3.35% in Intercontinental Exchange (ICE)Brazilian crude oil is trading at US$109.26/barrel. For the week, futures accumulated gains of 5.89% and 7.87%, respectively. In this trading session, the market was attentive to the conclusion of US President Donald Trump's trip to China, where he spent the last three days meeting with his counterpart Xi Jinping. Among the topics discussed by the two leaders was the war in the Middle East, which continues without a prospect of a definitive solution in the short term. In a statement given earlier, Trump stated that his patience with Iran was running out, which increased the geopolitical risk in the Middle East involving maritime traffic in the Strait of Hormuz. Also on the radar was Bloomberg's report that the United Arab Emirates unsuccessfully attempted to convince neighboring Persian Gulf countries to coordinate a joint military response to Iran's attacks. Meanwhile, Abu Dhabi announced the acceleration of a project that aims to double its oil export capacity through alternative routes to the Strait of Hormuz.
This text was translated by machine from Brazilian Portuguese.