Oil prices fall more than 3%, with WTI approaching $90 a barrel.

At 9:15 am (Brasilia time) this Thursday (7), the June contract of WTI crude oil showed a significant decrease of 3.77% in New York Mercantile Exchange (Nymex), quoted at US$ 91.50/barrel. The July contract for the Brent It fell 3.55% in Intercontinental Exchange (ICE), trading at US$97.65/barrel. So far this week, the fuel has accumulated losses of 10.2% and 9.73%, respectively. 

On the eve (6)WTI crude oil fell 7.03% to $95.08/barrel, and Brent crude oil declined 7.83% to $101.27/barrel.

This morning, fuel prices were pressured by market optimism regarding recent progress towards peace in Strait of HormuzAccording to the news channel of Saudi Arabia, Al ArabiyaAgreements were reached to ease the maritime blockade of United States, in exchange for the gradual reopening of the route.

Furthermore, the Israeli news outlet, Channel 12It was reported that Iran has agreed to transfer its stockpile of enriched uranium to a third country. 

Although the information has not yet been officially confirmed, the Iranian government declared, the day before (6), that it is evaluating a US proposal that would formally end the war. 

This text was translated by machine from Brazilian Portuguese.