Future oil contracts crashed on Wednesday (26) with the prospects for US import tariffs about products from their main business partners, as well as talks about the end of the Ukraine war.
Losses, however, were limited by information that there was a drop in oil stocks in the US, contrary to the expectation of analysts, and the announcement of the revocation of an oil agreement with Venezuela by US President Donald Trump.
At the New York Mercantile Exchange (Nymex), the WTI oil contract for April fell by 0.44% ($ 0.31), to $ 68.62 the barrel, while Brent for May, traded at Intercontinental Exchange (ICE), fell 0.59% ($ 0.43), $ 72.07 the barrel.
This afternoon, Trump, said that “tariffs, perhaps not all, will come into force on April 2,” during the first meeting of members of the second term. The Republican also stated that it does not intend to alleviate sanctions to Russia before obtaining a peace agreement for the Ukraine War.
“The real question will be whether the most severe sanctions against Iran will be enough to restrict global supplies compared to the possible slowdown in tariff demand and a peace agreement between Russia and Ukraine, which will likely alleviate Russian sanctions,” says Dennis Kissler of Bok Financial.
In the radar, US oil stocks dropped by 2.332 million barrels to 430.16 million barrels last week, the country’s Energy Department (DOE) said. Analysts consulted by The Wall Street Journal They predicted high of 1.7 million barrels. According to Ing, it is the first decline in American gross oil stocks since mid -January.
Near the closure, through the Truth social network, Trump also announced the revocation of the concessions granted to Venezuela’s Nicolás Maduro regime through an oil agreement signed during the Joe Biden government.
