Brent barrel reached a low of US$ 111.76 this Friday (June 17, 2022), the lowest since May 26
The price of oil in the international market drops by more than 5% this Friday (June 17, 2022). At 16:30, the barrel type brent maturing in August 2022 fell 5.20% to US$113.58. It came in at a low of $111.76, the lowest since May 26, 2022.
THE Petrobras announced, this Friday (June 17), a readjustment in the prices of diesel and gasoline. The value of gasoline will go from R$ 3.86 to R$ 4.06 per liter. Already the diesel will go from R$ 4.91 to R$ 5.61 per liter. LPG (Liquefied Petroleum Gas) prices will not change.
On May 9, the company had raised the price of diesel from R$4.51 to R$4.91. At that time, a barrel of oil was quoted at US$ 105.94. The dollar, which also influences the prices charged at Petrobras refineries, was at R$5.16. This Friday (June 17), the US currency is up 2.33%, at R$ 5.14, in the value recorded at 4:30 pm.
A barrel of WTI oil for delivery in July 2022 was down 6.38% at USD 110.09.
The drop in oil is due to investors’ fears of a possible global recession due to the slowdown in the economy. Investors believe that the fed (Federal Reserve, the Central Bank of the United States) should be more intense in raising interest rates to control inflation. On Wednesday (June 15), the monetary authority decided to raise interest rates by 0.75 percentage point, the highest increase since 1994. The price index increased 8.6% in the 12-month period up to May, the highest percentage in 40 years.
The higher rate strengthens the dollar against emerging country currencies and makes commoditieslike oil, less attractive.
#day #readjustment #Petrobras #oil #drops