Oil prices fell more than 2% this morning, with WTI trading below $79 a barrel.

At 8:40 am (Brasilia time) this Tuesday (16), the July contract of WTI crude oil recorded a significant drop of 2.87% in New York Mercantile Exchange (Nymex), quoted at US$78.41/barrel. The August contract for Brent It fell 2.63% in Intercontinental Exchange (ICE), trading at US$ 80.94/barrel. 

In the last trading session (12), WTI closed down 4.86%, at US$ 80.75/barrel, and Brent fell 4.76%, to US$ 83.17/barrel. 

This morning, fuel prices were pressured by market optimism regarding the resumption of traffic in the country. Strait of Hormuz, following the progress of the agreement between the United States and the IranThe day before, the US president, Donald TrumpIran announced a truce between the countries, but did not provide many details. The Iranian Foreign Minister, Abbas Araqchi, reported that negotiations have progressed and that a final agreement should be announced on Friday (19).

This text was translated by machine from Brazilian Portuguese.