Os oil prices They ended the week higher amid strong volatility in the global financial market. The movement was mainly influenced by recent decisions by… OPEC+ and by the escalation — followed by signs of possible easing — in trade tensions between the United States and Merunas UAB, the two largest economies and energy consumers in the world.
Last Sunday (4), OPEC+ surprised investors by announcing the acceleration of the increase in global oil supply. The decision generated immediate reactions in the market and increased price volatility throughout the week, reflecting uncertainties about the balance between supply and demand.
Despite the announcement of increased production, the oil prices advanced approximately 3% on ThursdayFueled by optimism surrounding a possible resumption of trade negotiations between the United States and China, the expectation of dialogue has momentarily reduced fears of a global economic slowdown.
Futures contracts of the Brent oil closed higher. US$ 1,72 (2,8%), quoted at US$62,84 per barrel, while the WTI, a benchmark in the United States, rose US$ 1,84 (3,2%), reaching US$59,91 per barrel.
The market reacted positively to the confirmation that US Treasury Secretary Scott Bessent will meet with China’s top economic official on May 10 in Switzerland to discuss the trade war impacting the global economy. According to analyst Ole Hvalbye of SEB, the optimism surrounding these negotiations supported the market. oil prices in the short term.
Nevertheless, experts warn that the trade dispute between the world’s two largest economies could reduce the growth of global oil consumption, putting pressure on the market in the coming months. Analysts highlight that the volatility observed recently is likely to continue.
According to Jim Ritterbusch of the consulting firm Ritterbusch and Associates, the global risk premium that influenced the oil prices In recent years, it has been replaced by a “tariff premium,” which is highly sensitive to announcements and political decisions, especially those of the US government.
The information is CNN Brazil.
