Oil is trading below $100 a barrel after the Strait of Hormuz reopened.

At 8:50 am (Brasilia time) this Wednesday (8), the May contract of WTI crude oil recorded a significant drop of 17.34% in New York Mercantile Exchange (Nymex), quoted at US$ 93.38/barrel. The June contract for the Brent It fell 15.40% in Intercontinental Exchange (ICE), trading at US$92.44/barrel. For the week, the fuel has accumulated losses of 16.33% and 15.29%, respectively. 

In the last trading session (7), the energy commodity closed up 0.48% on the Nymex, at US$ 112.95/barrel. On the other hand, it fell 0.45% on the ICE, to US$ 109.27/barrel.

This morning, prices were pressured by the reopening of Strait of Hormuz for the Iran, changing the president's position United States, Donald Trump, to attack the Persian country.

The president declared that the countries had found a ceasefire agreementwhich will remain in effect for the next two weeks. The Ayatollah's administration Mojtaba Khamenei He also stated that the attacks will be suspended if the US and Israel not to carry out any further bombings. 

The agreement between the parties will last for two weeks. During this period, vessels may transit the Strait of Hormuz in coordination with the Iranian armed forces, as reported by [source missing]. Minister of Foreign Affairs of the country, Abbas Araqchi.

This text was translated by machine from Brazilian Portuguese.