Oil prices fell by about 7% this morning, with WTI trading below $84 a barrel.

At 8:35 am (Brasilia time) this Monday (27), the September contract of WTI crude oil recorded a significant drop of 2.34% in New York Mercantile Exchange (Nymex), quoted at US$ 90.03/barrel. The expiration date for the same month for the Brent It fell 2.84% in Intercontinental Exchange (ICE), trading at US$ 97.85/barrel. 

In the last trading session (24), WTI fell 3.12%, to US$ 89.31/barrel, while Brent recorded a loss of 3.88%, to US$ 96.78/barrel. On the other hand, for the week, the fuel contracts accumulated gains of 9.2% and 9.85%, respectively. 

This morning, fuel prices were pressured by investors' reaction to the decision by the United States and Iran to suspend attacks over the weekend, raising market hopes for a diplomatic solution to the conflict in the Persian Gulf.

The US ambassador to the United Nations, Mike Waltz, stated that the country's president, Donald Trump, decided to suspend further bombings to allow progress in peace negotiations with Tehran.

To limit further losses, the Houthis attacked oil installations along the Red Sea coast, slowing maritime traffic through the Bab el-Mandeb Strait. 

This text was translated by machine from Brazilian Portuguese.