The prices of Petroleum rose this Friday and are on track to close their fourth consecutive month on the rise, at a time when tensions remain in Middle East, after the attack of Iran to Israel and speculation of a possible escalation of the conflict.
However, the strength of global dollar and the latest data inflation of USA dashed hopes that the Federal Reserve can soon cut the interest rates, which contained the upward trend of the market.
Specifically, crude oil futures Brent, the kind of Petroleum which is used as a reference in Uruguay, They rose 49 cents, or 0.55%, to $89.50 a barrel. Meanwhile, those of West Texas Intermediate (WTI) gained 28 cents, or 0.34%, to $83.85 a barrel.
Jose Torres, of Interactive Brokers, He assured that “tension has risen a little in the Middle East in the last few hours,” after the missile launches on Israel from the south of the Lebanon and the attack by Israeli military aviation on the Lebanese pro-Iran movement Hezbollah.
In addition, the United States reported this Friday that it shot down two drones in regions of Yemen controlled by the Houthi rebels, who launched an anti-ship ballistic missile into the Gulf of Aden, without causing damage.
In that scenario, Andy Lipow, of Lipow Oil Associates, He stated that “operators are anxious about what could happen over the weekend” in geopolitical matters, due to speculation of possible new attacks.
With this panorama, what can happen in Uruguay?
In this way, after the rise of Brent 2.16% so far this month, with values that ranged between $85.80 and $92.18 per barrel, it is worth wondering what will happen in May in Uruguay, when he Executive you must define the values of the naphtha, he gasoil and the supergas.
The value of Brent is the one used as a reference Ursea to prepare the Import Parity Prices (PPI), but it is not the only variable that takes into account the Ministry of Industry, Energy and Mining (MIEM) to determine whether or not the fuels, since the price of the dollar, which fell in recent days, but has accumulated an increase of 1.62% so far this month.
At the moment, the value of the Super 95 gasoline is at 76.54 pesos as the maximum retail price, while the 50S diesel It is at 54.89 pesos; and the supergas It stands at 80.75 pesos per kilo, below the import parity.
The mystery will be revealed next week: first with the publication of the PPI by Ursea and then with the final decision of the Executive, which will evaluate the different variables to confirm whether the fuels they rise or remain frozen.
Source: Ambito
