Oil is trading sharply higher this Wednesday morning.

At 8:55 am (Brasilia time) this Wednesday (3), the January contract of oil WTI recorded a strong increase of 1.36% in New York Mercantile Exchange (Nymex), quoted at US$ 59.44/barrel. The February contract for the Brent recorded a gain of 1.18% in Intercontinental Exchange (ICE), trading at US$63.19/barrel. For the week, the energy commodity has accumulated gains of 1.49% and 1.27%, respectively. 

In the last session (2), the commodity closed down 1.14% on the Nymex and ICE, quoted at US$ 58.64/barrel and US$ 62.45/barrel, in that order. 

This morning, fuel prices were driven up by the failure of US authorities to achieve peace in Eastern Europe. The Russian government reported earlier that after a five-hour meeting between US special envoys Steve and Jared Wittkoff and President Vladimir Putin, the parties failed to reach an agreement. Furthermore, the American Petroleum Institute (API) It was reported yesterday, at the end of the day, that US oil inventories fell by 2.480 million barrels last week. The API data is considered a preview of the official figures. Energy Information Agency (EIA), which will be released today.

This text was translated by machine from Brazilian Portuguese.