Gold drops below the $1,700 threshold. Oil gives in. Wall Street in the red – Markets in a minute

Gold drops below the $1,700 threshold. Oil gives in. Wall Street in the red – Markets in a minute
Gold drops below the $1,700 threshold. Oil gives in. Wall Street in the red – Markets in a minute

Oil starts a new month to lose. gas devalues

Oil continues to depreciate on this first day of September, at a time when concerns about the demand for this raw material are getting worse. The confinement that starts this Thursday in Chengdu, one of the largest Chinese cities, has also put investors on alert, as China is the largest importer of “black gold” in the world.

The West Texas Intermediate (WTI), a benchmark for the US, dropped 0.93% to US$88.72 a barrel, after having closed the third consecutive month of losses, being the longest series of declines in more than two years. years old. North Sea Brent – ​​traded in London and a benchmark for Europe – dropped 2.84%, trading at USD 96.49 per barrel.

Oil has sunk more than 20% in the last three months, erasing all gains recorded since Russia’s invasion of Ukraine on February 24th. This led the Organization of Petroleum Exporting Countries (OPEC) to announce a possible reduction in the supply of this raw material to stabilize the market.

“The market will be watching for the OPEC meeting on Monday,” said Vishnu Varathan, head of strategy at Mizuho Bank.
In the gas market, the raw material traded in Amsterdam (TTF) – “benchmark” for the European market – lost 4.12% to 230 euros per megawatt-hour. At a time when uncertainties regarding the scale of the energy crisis in Europe continue, Germany announced that gas reserves have reached 85% of total capacity, indicating that it is better prepared than expected in the event of further cuts in the supply of this raw material. by Russia.


The article is in Portuguese

Tags: Gold drops threshold Oil Wall Street red Markets minute

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