Petrorio, in order to maintain stability for the fourth quarter of this year, held a hedge to ensure the minimum value of the barrel for 70 dollars. Due to international quotations, 700,000 barrels were locked in the month of May. Already in October, were 150,000, in this period the price was 80 dollars.
Recently, the value of Brent is being negotiated below 60 dollars, as a consequence of the wide supply and weakening of demand. The hedge practice has the purpose of protecting financial transactions against the variations of unwanted costs, being applied in interest rates, commodity, among others.
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