Petroleum prices closed the month with a three -day running streak, after one of the three largest crude oil producers in the world hinted at their intentions to raise their pumping levels in the short term.
The June contract of the American oil barrel, West Texas Intermediate (WTI), dropped 3.66% by $ 58.04 on April 30, while the June contract of the North Sea oil contract, Brent, fell 1.76% in 63.12 dollars.
In April, the price of WTI fell 18.80% and that of the Brent lost 15.55%, its largest collapse since November 2021.
The Mexican export mixture closed on April 30 with a drop of 2.92% to $ 55.79 a barrel and ended the month with a loss of 16.38 percent.
However, Mayo started positively with prices by advancing almost 2% on Thursday, after the president of the United States, Donald Trump, threatened to impose sanctions to those who buy Iranian oil, after the postponement of the fourth round of conversations between the two countries.
Brent crude futures closed with an increase of 1.07 dollars, or 1.75%, at $ 62.13 per barrel, while the futures of the crude West Texas intermediate earned $ 1.03, or 1.77%, at 59.24 dollars. The Mexican crude did not quote Thursday due to the Labor Day holiday.
Saudi Arabia, one of the world’s largest oil producers, said that the oil market will not underpin more supply cuts and that could support a prolonged period of low prices.
At the beginning of the month, Saudi Arabia pressed so that the organization of oil exporting countries and its allies increased production more than planned in May.
Trump said oil purchases or Iranian petrochemical products should stop and that any country or person who bought will be subject to secondary sanctions.
