At 8:40 am (Brasilia time) this Monday (8), the July contract of WTI crude oil recorded a strong increase of 1.05% in New York Mercantile Exchange (Nymex), quoted at US$ 91.49/barrel. The August contract for Brent It was advancing 1.25% in Intercontinental Exchange (ICE), traded at US$ 94.25/barrel. In the last trading session (5), WTI closed down 2.69%, at US$ 90.54/barrel, and Brent fell 2.04%, to US$ 93.09/barrel. On the other hand, for the week, fuel futures accumulated gains of 3.64% and 2.16%, respectively. This morning, fuel prices were driven by investors' reaction to Israel's recent attacks against Iran and Lebanon, increasing fears that the conflict in the Persian Gulf region is likely to escalate. US President Donald Trump rejected the bombings and demanded that the firing "stop immediately". Limiting further gains, the Organization of the Petroleum Exporting Countries and allies (OPEC+) agreed, at a meeting held the day before (7), to a fourth consecutive increase in its fuel production quotas, raising to 188,000 barrels per day (bpd) starting in July. Between April and June, the cartel increased production of the energy commodity by almost 600,000 bpd.
This text was translated by machine from Brazilian Portuguese.