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Prio and Petrobras shares fall with oil falling to US$75,95 due to recent events in the Middle East.
International markets were not favoring shares of oil companies, with shares of Petrobras and PRIO recording the worst drops this Monday. PETR3 and PRIO3 shares fell 2,78% and 2,43% respectively. This is due to the decline in the price of oil, which directly affected companies in the sector. In the same period, WTI was quoted at US$70,73, with a drop of 4,17%, and Brent, a reference for Petrobras, fell 3,57%, at US$75,95. This decline in oil prices has been influenced by recent events in the Middle East, especially in Saudi Arabia, Libia and Iran.
One of the reasons for the fall in shares of Brazilian oil companies was Saudi Arabia's decision to reduce the price of a barrel of Arab Light, exported to Asia, to the lowest level in 27 months. Furthermore, the disruption of oil production by Libya's largest oil field, Sharara, and the decrease in Iran's oil exports to China also contributed to the drop in oil prices. These events are causing instability in the markets and negatively impacting the shares of oil companies.
Oil falls for the second time this week
O oil price back off this Wednesday, with a barrel being traded at US$75,95, due to recent events No. Middle East. The prices oil prices have been suffering variations due to instability in the region, which is responsible for a large part of the oil production exported to the asian giant.
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Oil: impacts of production and export
Oil production in the Middle East has a significant impact on the price of a barrel, which is exported around the world. Prices have been affected by geopolitical events and market volatility, resulting in fluctuations in oil prices.
Oil price: influence of the extraction field
The oil extraction field in the Middle East is fundamental for the production and export of oil, having a major impact on the global energy market. Tensions in the region have caused uncertainty regarding oil supply, directly influencing the price of a barrel.
Oil: challenges and opportunities
Recent events in the Middle East have brought challenges to the global oil market, but also created opportunities for producing and consuming countries. Volatility in oil prices has led market agents to seek strategies to deal with the uncertainties surrounding oil production and exports.
Source: moneytimes
