Oil prices fell more than 5% on Wednesday, with slow recovery of flows in Hormuz.

The July contract of WTI crude oil negotiated in New York Mercantile Exchange (Nymex) It ended this Wednesday (20) with a significant drop of 5.70%, quoted at US$ 98.26/barrel. The expiry of the same month of Brent plummeted 5.62% in Intercontinental Exchange (ICE), traded at US$105.02/barrel. In this trading session, fuel prices were pressured by the information that three ships successfully crossed the Strait of Hormuz this Wednesday (20), carrying a combined cargo of 6 million barrels of oil destined for South Korea and China, a movement that rekindled expectations of a gradual normalization of export flows in the region. The President of the United States, Donald Trump, stated that the North American country is in the "final stages" with Iran, while seeking an agreement to end the war. Limiting further losses, the Energy Information Administration (EIA) The company announced that oil inventories fell by 7.863 million barrels in the week ending May 15, to 445.0 million barrels (excluding strategic reserves), compared to market projections of a 2.5 million barrel drop.

This text was translated by machine from Brazilian Portuguese.