At around 6:39 pm (Brasília time), this Tuesday (30th), the WTI spot contract registered losses of 1.64% and was traded at US$ 60.55 / barrel on the New York Stock Exchange. The American Petroleum Institute (API) recently reported that United States oil stocks grew by 3.910 million barrels in the past week. The result was well above the projection of an increase of just 400 thousand barrels and an increase of 3 million barrels in the previous week. The data presented also collaborates with market fears of an oversupply of fuel amid the new growth of cases, deaths and hospitalizations caused by the coronavirus in Europe. In addition to the billionaire damage caused by the six-day stranding of a mega cargo ship in the Suez Canal in Egypt. Also be cautious about the next meeting of the Organization of the Petroleum Exporting Countries and Allies (OPEC +). The market expects the group to keep its production stable in May.
This text was translated by machine from Brazilian Portuguese.