Braskem and Petrobrás renew contract and shares react

Petrobras and Braskem announced the renewal of the contracts supply of fuel to the petrochemical company, in the installed units of the Bahia and Rio Grande do Sul. The renovation will last for another five years and has been announced on Wednesday (10).

As a com, the companies' shares have changed. A Braskem opened with a high of about 3%, but softened. In turn, Petrobras fell by more than 2%, following the performance of oil. WTI and Brent oil contracts had a drop in commodity inventories in the U.S., which shows the difficulties for the market to find a balance between supply and demand.

In more, the contracts enter into force after the closure of the current contract in December 2020. According to the companies, the agreement is 100% price of the naphtha quote in North-West Europe.

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