Brent’s futures fell 6.1% and those of the American West Texas intermediate by 6.0%.
The prices of oil more than 6% collapsed after the high fire between Israel and Iran And after losing more than 7% in the previous day, in a wheel that was marked by volatility against the news from Middle East.
The futures of crude Brent They closed with a drop of 6.1%, to $ 67.14 per barrel. The crude West Texas Intermediate (WTI) American fell 6.0%, to $ 64.37. Both contracts had dropped more than 7% in the previous session, after reaching five months after the US attack on Iran’s nuclear facilities during the weekend.
In recent days, American attacks on Iranian strategic facilities made scalar at the price of Brent more than US $ 78 per barrel, 30% above the price that was recorded last month.
However, the Head of Research of Criteria, Gustavo Araujo, points out that “as long as there is no major escalation or concrete interruptions in regional flows”, particularly in the Ormuz narrowthe “increases could be transitory, reflecting above all an overreaction of the geopolitical risk premium rather than a real unbalance between supply and demand.”
No OPEC+ countries increase oil supply to a mixed demand
He also said that the overall oil supply remains “relatively baggy” following the increase in production in countries not OPEC+while “demand shows mixed signals, with a weaker Chinese economy than expected” and a consumption that deteriorated in the US.
“While prices could be sustained in a higher range over the next few weeks, we do not expect a lasting rally unless the conflict intensifies significantly,” Araujo said: “At the moment, the market foundations and the response capacity of the main producers act as a brake on more pronounced rises.”
Source: Ambito
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