At 3:34 pm (Brasília time), this Friday (30th), the WTI spot contract registered a 2.20% devaluation and was traded at US$ 63.58 / barrel on the New York Stock Exchange. The commodity market is making profits in this session after significant appreciation in the past few days. In addition to the signs of global economic weakness, increasing fears about demand for oil and possible oversupply. Although the Organization of Petroleum Exporting Countries and Allies (OPEC +) has reaffirmed this week that it will contain the fuel supply and not cause an imbalance in prices. The China Statistics Agency reported today that the country's industrial Purchasing Managers' Index (PMI) dropped to 51.1 points in April, from 51.9 points in March. While the Eurozone economy contracted 0.6% in the first quarter of 2021, entering a technical recession, driven by a 1.7% drop in Germany's economic activity. In addition, investors are following the vaccination against coronavirus, which is still considered slow in the world and the recent worsening of the disease in India.
This text was translated by machine from Brazilian Portuguese.