At 9:30 am (Brasilia time) this Thursday (9), the August contract for WTI oil registered a slight increase of 0.19% in New York Mercantile Exchange (Nymex)Brent crude, quoted at US$73.66/barrel, was up 0.42% in September. Intercontinental Exchange (ICE)WTI crude oil is trading at US$78.35/barrel. So far this week, futures have accumulated gains of 7.24% and 8.61%, respectively. Yesterday (8), WTI rose 4.37% to US$73.52/barrel, while Brent jumped 5.20% to US$78.02/barrel. Both contracts closed at their highest levels since June 22. In this trading session, oil prices continue to advance, supported by the recent escalation of tensions in the Middle East. As promised by US President Donald Trump after ending the ceasefire agreement, US armed forces resumed attacks against Iran last night. The Iranian Revolutionary Guard, in turn, launched a "massive" attack against US military bases in the region. Qatar, Kuwait, and Bahrain had already announced earlier that they had intercepted some Iranian missiles. The DXY – an index that compares the strength of the dollar against major global currencies – fell 0.15%. Limiting further gains, the Energy Information Administration (EIA) The agency announced the previous day that US oil inventories – excluding strategic reserves – increased by 2.998 million barrels in the week ending July 3, to 411.4 million barrels, contradicting market projections of a drop of 1.9 million barrels.
This text was translated by machine from Brazilian Portuguese.