At 3:43 pm (Brasília time), this Tuesday (16th), the WTI oil registered a drop of 0.81% traded at US$ 64.86 / barrel on the New York Stock Exchange. The commodity follows the downward bias of the past few days, still reflecting market fears about the growth of cases and deaths caused by the coronavirus in European and Asian countries, contradicting expectations of economic recovery with vaccination against the disease. US manufacturing production also declined by 2.2% in February, driven by the extreme cold wave in the south of the country. Retail sales fell 3% last month, compared to an increase of 7% previously and expectations of a slight decrease of 0.5%. In addition, there is caution with waiting for the monetary policy meeting that the Federal Reserve (FED, central bank of the United States) holds today and tomorrow (17) and updating of oil stocks in the country by the American Petroleum Institute (API, in English) at the end of the day.
This text was translated by machine from Brazilian Portuguese.