At 9:14 am (Brasilia time) this Wednesday (1st), the August contract of WTI crude oil showed a moderate decrease of 0.53% in New York Mercantile Exchange (Nymex), quoted at US$ 69.13/barrel. The September contract for Brent It fell 0.95% in Intercontinental Exchange (ICE), traded at US$ 72.26/barrel. In the partial week, the assets retreated 0.14% and 0.47%, in that order. On the previous day (30), the WTI It fell 1.77%, to US$69.50/barrel, and the Brent Brazilian crude oil fell 1.30% to US$72.95/barrel. This morning, prices were pressured by expectations of progress in negotiations between the United States and Iran, which could consolidate a more lasting peace agreement and contribute to the normalization of maritime traffic through the Strait of Hormuz. According to a source with knowledge of the negotiations and a representative of the Iranian government, authorities from both countries held technical talks in Doha, Qatar, focusing on navigational safety through the strait and maintaining the ceasefire. Separately, Iran's Deputy Foreign Minister, Kazem Gharibabadi, met with the Prime Minister of Qatar to discuss the formalization of the provisional agreement between Washington and Tehran. Despite this, the Iranian government reiterated that there are no plans for direct meetings with US representatives at this time. In addition to the geopolitical scenario, investors are awaiting the release of the weekly oil inventory report. Energy Information Administration (EIA)The market expects a reduction of 2.9 million barrels in US inventories.
This text was translated by machine from Brazilian Portuguese.