Texas Intermediate Oil (WTI) closed this Wednesday with a rise of 6.95%, to US$106.8 per barrel, driven by the lack of progress in negotiations between the United States and Iran.
Futures contracts for WTI, the crude oil used as a reference in the United States for delivery in June, added US$6.9 compared to the previous day’s close.
The rise in crude oil was marked by the prolonged closure of the Strait of Hormuz, a key route for global energy trade, despite the ceasefire agreed between the United States and Iran.
In this context, the president of the United States, Donald Trump, stated on his Truth Social network that Iran “cannot agree” nor “knows how to sign a non-nuclear agreement,” and urged the Persian country to “wake up soon,” while the talks remain stalled.
“Iran cannot reach an agreement. They do not know how to sign a non-nuclear agreement. They better wake up soon!” said the president through his own social network.
For its part, Iran has threatened “unprecedented military action” if the United States continues with its naval interventions and does not unblock the Strait of Hormuz.
In addition, several American media report that Trump would have ordered his advisors to prepare for a prolonged blockade of that strategic enclave.
In the midst of this scenario, the United Arab Emirates (UAE) announced yesterday its departure from OPEC and OPEC+ as of May 1, which adds pressure to the oil market.
Generates uncertainty
In parallel, the financial markets reflected the uncertainty. Wall Street closed this Wednesday mixed, in a day also marked by the decision of the US Federal Reserve (Fed) to keep interest rates unchanged.
The Dow Jones Industrial Average lost 0.57% and stood at 48,861 points; The S&P 500 lost 0.04%, to 7,135 points, while the Nasdaq advanced 0.04%, to 24,673 points.
The Fed meeting left the largest number of disagreements on monetary policy since 1992, with four members of the Federal Open Market Committee (FOMC) disagreeing with part of the decisions adopted.
In the subsequent press conference, Jerome Powell, who will leave office on May 15, He described the debate as “vigorous” and noted that the long-term strategy must be “sustainable” and avoid generating confusion in the markets.
On the political front, the Senate Banking Committee approved Kevin Warsh’s candidacy for Fed chairmanship and gave way to a floor vote in the coming days, where his confirmation is considered certain.
Meanwhile, investors remain attentive to the evolution of the crisis in the Middle East and the behavior of crude oil prices, with Brent above US$118.
At the corporate level, attention is focused on the results that four large technology companies will present after the stock market closes: Meta, Amazon, Microsoft and Alphabet, Google’s parent company.
Finally, during the trading day, the manufacturer NXP Semiconductors stood out, with an advance of 25.5%, and Seagate Technology, which rose 11.1%.