At 8:40 am (Brasilia time) this Friday (12), the July contract of WTI crude oil recorded a significant drop of 3.00% in New York Mercantile Exchange (Nymex), quoted at US$ 85.08/barrel. The August contract for Brent It fell 2.79% in Intercontinental Exchange (ICE), trading at US$87.86/barrel. So far this week, futures have accumulated losses of 6.09% and 5.67%, respectively.
In the last trading session (11), WTI closed down 2.58%, at US$ 87.71/barrel, and Brent fell 2.92%, to US$ 90.38/barrel.
This morning, fuel prices were pressured by the repercussions of US President Donald Trump's statement that the final points of negotiations for an agreement with Iran had been approved and, therefore, new attacks and bombings in Persian territory had been suspended.
A source close to Reuters reported that a ceasefire memorandum between the US and Iran is expected to be signed this Sunday (14), with authorities from both countries meeting in Geneva, Switzerland.
As reported by the New York Post, Iran has finalized its latest draft of the agreement and sent it to Qatari intermediaries for forwarding to U.S. authorities.
Meanwhile, the Organization of the Petroleum Exporting Countries (OPEC) Yesterday, it released its monthly report on global fuel demand growth, in which it reduced its forecast to 970,000 barrels per day in 2026, compared to the previous estimate of 1.17 million bpd.
This text was translated by machine from Brazilian Portuguese.