At 9h07min (Brasilia), Brent's barrel for May fell 0.11% on IntercontinentalExchange (ICE), at US $66.14, while WTI for the same month receded 0.24% in the New York Mercantile Exchange (Nymex) to US $62.26. "This is a reaction to the jump that we saw on Friday," commented Ole Hansen, head of commodity strategy for Saxo Bank.
In the last week, Brent has amassed 1.67% appreciation of the assessment that there are geopolitical risks to global supply and a more favorable perspective for the demand presented by the International Energy Agency (IEA). On Thursday (15), the IEA elevated its projection to the global demand for oil this year, to 99.3 million barrels per day, with the assessment that this greater appetite for the commodity will compensate for the strong expansion of shale oil production in the USA and maintain the market Balanced.
This week, investors will pay attention to the latest data on stocks and production of the US and also to the Federal Reserve's monetary policy decision (EDF, the US central bank), which on Wednesday (21) should announce its first high interest since December. -Source: Trade Journal