September's contract WTI crude oil negotiated in New York Mercantile Exchange (Nymex) closed this Monday (3) with a significant drop of 5.11%, quoted at US$ 80.34/barrel. The October contract for the Brent fell 4.73% in Intercontinental Exchange (ICE), trading at US$ 83.77/barrel.
In this trading session, fuel prices were pressured by the market's reaction to the decision by US President Donald Trump to suspend further bombings against Iran, with the aim of advancing negotiations for the complete reopening of the Strait of Hormuz.
However, Iranian authorities have stated that there are no ongoing talks between the two administrations.
Meanwhile, the seven countries of Organization of the Petroleum Exporting Countries and allies (OPEC+) They agreed, in a virtual meeting held yesterday (2), to increase production of the energy commodity by 188 thousand barrels per day (bpd) from September. This is the sixth consecutive monthly increase and the same volume increased in August and July.
The measure also concludes the gradual reversal of the 1.65 million bpd production cut agreed upon in 2023.
This text was translated by machine from Brazilian Portuguese.