WTI crude oil is falling this morning and is once again trading below $100 a barrel.

At 9 am (Brasilia time) this Wednesday (1st), the May contract of WTI crude oil recorded a significant drop of 2.58% in New York Mercantile Exchange (Nymex), quoted at US$ 98.76/barrel. The June contract for the Brent It fell 2.22% in Intercontinental Exchange (ICE), trading at US$101.63/barrel. For the week, the fuel accumulated losses of 0.94% and 3.55%, respectively. 

In the last trading session (31)The energy commodity closed down 1.46% on the Nymex, at US$101.38/barrel, and fell 3.18% on the ICE, to US$103.97/barrel. 

In March, the energy commodity contract on the Nymex accumulated gains of 52%, the biggest jump since May 2020. Meanwhile, the futures contract traded on the ICE appreciated by 42.68% in March, a level not seen in almost 30 years.

This morning, prices were under pressure amid market uncertainties regarding the continuation of the war in Middle Eastafter the president of United States, Donald Trump, to state that he is ready to end the conflict even without a defined agreement with the Iran.

"We will be leaving very soon," the president told reporters at the White House Oval Office, adding that the withdrawal of troops from the Middle East could occur "within two weeks, maybe three".

The day before, the president of Iran, Masoud PezeshkianHe stated that the country is also not interested in prolonging the war against the United States and Israel…and that he is willing to end the military dispute, provided there are guarantees against further aggression.

In the US, the American Petroleum Institute (API) It was reported that U.S. crude oil inventories rose by 10.263 million barrels last week. API data is considered a preview of the official figures. Energy Information Agency (EIA)which will be released today.

Limiting larger losses, according to research by Reuters, fuel production from Organization of the Petroleum Exporting Countries (OPEC)) fell by 7.5 million barrels per day (bpd) In March, production fell to 21.57 million barrels per day (bpd), due to cuts following the escalation of the war in the Middle East.

This text was translated by machine from Brazilian Portuguese.