Oil is trading sharply lower this morning in the international market.

At 8:54 am (Brasilia time) this Friday (24), the June contract of WTI crude oil showed a sharp drop of 1.21% in New York Mercantile Exchange (Nymex), quoted at US$ 94.69/barrel. The contract for the same month for the Brent It fell 0.52% in Intercontinental Exchange (ICE), trading at US$104.65/barrel. On the other hand, in the partial week, the fuel has accumulated increases of 14.8% and 15.9%, respectively. 

On the eve (23), WTI and Brent closed up 3.1% on Nymex and ICE, at US$ 95.85/barrel and US$ 105.07/barrel, respectively.

This morning, fuel prices were under pressure after a government source… Pakistan to affirm to Reuters that the Minister of Foreign Affairs of Iran, Abbas Araqchi, will meet tonight with United States officials to negotiate peace in Persian Gulf. 

Furthermore, the US president, Donald Trump, announced a three-week extension of the ceasefire between Israel and Lebanoneasing market sentiment amid the crisis in the region. 

However, the blockades in Strait of Hormuz They continue to limit the fall in energy commodity prices on the international market.

This text was translated by machine from Brazilian Portuguese.