Oil prices fall sharply after the signing of a peace agreement in the Strait of Hormuz.

At 8:50 am (Brasilia time) this Thursday (18), the August contract of WTI crude oil recorded a sharp drop of 1.95% in New York Mercantile Exchange (Nymex), quoted at US$74.53/barrel. The contract for the same month for the Brent It fell 1.45% in Intercontinental Exchange (ICE), trading at US$78.40/barrel. So far this week, the fuel has accumulated losses of 10.6% and 10.2%, respectively. 

In the last trading session (17), WTI advanced 1%, to US$ 76.01/barrel, and Brent closed with a gain of 0.75%, at US$ 79.55/barrel. 

This morning, fuel prices fell again as investors reacted to the provisional agreement between the United States and the Iran, signed the day before by the authorities of both countries. 

Among the details of the agreement is the complete reopening of Strait of Hormuz within 30 days, along with the easing of sanctions imposed by the US against TehranThe memorandum also opens a 60-day negotiation period.

Meanwhile, as reported by a survey by PetroChinaThe country is expected to consume 753 million tons of oil in 2026, a 4.9% drop in demand compared to 2025. 

This text was translated by machine from Brazilian Portuguese.