At 8:40 am (Brasilia time) this Thursday (25), the August contract of WTI crude oil recorded a moderate drop of 0.88% in New York Mercantile Exchange (Nymex), quoted at US$ 69.72/barrel. The expiration date for the same month for the Brent It fell 0.98% in Intercontinental Exchange (ICE), trading at US$73.02/barrel. So far this week, futures have accumulated losses of 8.03% and 9.37%, respectively.
In the last trading session (24), WTI fell 3.92%, to US$ 70.34/barrel, while Brent fell 3.81%, to US$ 73.87/barrel.
This morning, fuel prices were trading at levels not seen since the start of the war between the United States and Iran, amid progress in negotiations between the parties and the gradual resumption of energy export flows through the Strait of Hormuz.
U.S. Energy Secretary Chris Wright stated that at least 20 million barrels of oil passed through the route in the last 24 hours. He also said that the flow is expected to continue even without an agreement between Washington and Tehran.
Meanwhile, as reported by Reuters, citing a high-ranking source from Iraqi Ministry of PetroleumThe country is considering leaving the… Organization of the Petroleum Exporting Countries (OPEC) if your production quota is not increased significantly.
The source informed the publication that the Iraqi government is experiencing a financial crisis as a result of the war in the Persian Gulf and that oil sales represent the majority of its income. The country was significantly affected by the closure of the Strait of Hormuz.
Currently, Iraq's production quota is 4.378 million barrels per day (bpd) in July.
This text was translated by machine from Brazilian Portuguese.