At around 5:43 pm (Brasília time), this Tuesday (12th), the WTI spot contract jumped 1.67% and was traded at US$ 53.12 / barrel on the New York Stock Exchange.
The day was marked by the technical movement of adjustments in positions after losses the day before and optimism about the cut of 1 million barrels per day (bpd) in Saudi Arabia's supply in February and March to alleviate the impacts caused by the continuous coronavirus pandemic. In addition, the market is waiting for the US presidential inauguration of Democrat Joe Biden on January 20, which should contribute to the faster approval of the country's new economic stimuli. There is also an expectation about US oil stocks from last week, which will be updated today by the American Petroleum Institute (API).
This text was translated by machine from Brazilian Portuguese.