Brent quotation for delivery in June rises 1.63% to 88.42 dollars
The price of a barrel of Brent oil for delivery in June closed today on the London futures market up 1.63%, to $88.42.
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Economia Brent
North Sea crude, the European benchmark, ended the session on the International Exchange Futures trading at $1.42 above the 87 it closed at on Monday.
European oil, which had begun a downward trend due to the reduction in tension in the Middle East, experienced a volatile session, with investors subject to opposing stimuli.
Given the reduction in this geopolitical tension, the uncertainty surrounding the European Central Bank's decision on reducing its interest rate became more prominent, that is, whether it will continue to cut it after the expected reduction in June, as well as that of the US Federal Reserve.
The Bank of England has already indicated that, although reductions are expected in the United Kingdom, from the current rate of 5.25%, these may not be immediate.
Read also: Brent price for delivery in June falls 0.33% to 87 dollars (Portuguese version)
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