The May contract of WTI crude oil negotiated in New York Mercantile Exchange (Nymex) It ended this Monday (13) with a strong increase of 2.6%, quoted at US$ 99.08/barrel. The June contract for the Brent rose 4.36% in Intercontinental Exchange (ICE)The price of crude oil, trading at US$99.36/barrel, fell in this trading session following the failure of weekend negotiations in Pakistan between representatives of the United States and Iran. Without an agreement to end the conflict that began on February 28th, President Donald Trump ordered a blockade of ships leaving Iranian ports, a measure that took effect on Monday. This action generated threats of retaliation from Iran against neighboring Gulf countries. With no prospect of a short-term solution, investors have once again incorporated into prices a scenario of prolonged global energy shock. This movement amplifies concerns about: global inflation; a slowdown in economic activity; and logistical and transportation disruptions. In the United States, rising fuel prices are already impacting consumption, with drivers reducing vehicle use due to the highest gasoline and diesel prices since 2022. In Europe, the President of the European Commission, Ursula von der Leyen, stated that member countries need to coordinate responses to rising energy bills, which have already increased by €22 billion since the start of the war. Amid this scenario of high prices, OPEC reduced its forecast for global oil demand in the second quarter by 500,000 barrels per day, reflecting concerns about the economic slowdown and restricted demand in the face of rising energy costs.
This text was translated by machine from Brazilian Portuguese.