At around 5:32 pm (Brasília time), this Wednesday (13th), the WTI spot contract retreated 0.66% and was traded at US$ 52.86 / barrel on the New York Stock Exchange. The day followed the technical movement of profit realization after gains the day before with the fall of US oil stocks above expectations. The Energy Information Administration (EIA) reported that inventories fell by 3.247 million barrels last week, compared to the expectation of 2.26 million barrels. In addition, the market remains apprehensive about the new growth of contamination and deaths caused by the coronavirus worldwide. Despite the start of vaccination of the disease in more than 50 countries, increasingly strict social containment measures continue to be imposed and are expected to further damage the global oil economy and demand. In the United States, the Beige Book released today by the Federal Reserve (FED) pointed out that the country's economic activity has increased modestly in recent weeks. Positively, information that the largest global oil exporter, Saudi Arabia, will cut its February offer to some Asian buyers by up to a quarter remains on the radar.
This text was translated by machine from Brazilian Portuguese.