At around 6:44 pm (Brasília time), this Monday (1st), the WTI spot contract retreated 1.79% and was traded at US$ 60.40 / barrel on the New York Stock Exchange.
The session remains on the negative side influenced by the bearish movement of the past few days and fears of a reduction in the consumption of the commodity in China, which continues without signs of significant improvement in demand and retreat in the expansion of industrial activity in the country. The market also remains cautious with the meeting of the Organization of the Petroleum Exporting Countries and Allies (OPEC +) scheduled for Thursday (04), which may increase the global offer amidst the economic uncertainties with the coronavirus pandemic. On the other hand, advances in the immunization of the disease also contribute to expectations regarding the recovery of the global economy.
This text was translated by machine from Brazilian Portuguese.