At 3:41 pm (Brasília time), this Wednesday (17th), WTI oil registered a 0.45% drop, trading at US$ 64.51 / barrel on the New York Stock Exchange. The price follows the downward bias of the past few days and information from the Information and Energy Administration (EIA) that the United States oil stocks grew by 2.369 million barrels in the week ended on March 9, compared to a rise of more 13 million barrels in the previous week. The American Petroleum Institute (API), in turn, pointed to a drop of 1 million barrels in US fuel stocks in the period. In addition, the recent increase in coronavirus cases and deaths in European countries heightens fears about the global economic recovery and, consequently, demand. Although the Federal Reserve's Federal Open Market Committee (Fomc, in English) of the Federal Reserve (FED, central bank of the United States) maintained the country's basic interest rate between 0% and 0.25%, in line with the expectation of the market and amidst the implementation of economic stimuli.
This text was translated by machine from Brazilian Portuguese.