Oil relieves new record but remains above 100 US dollars

The price of a barrel of oil followed the devaluation in international markets, to relieve the new maximum set in the historic session yesterday, but remains above the barrier of 100 US dollars encouraged by the weakness of the American currency and supported by the expectation that the meeting of tomorrow's OPECThe price of a barrel of oil followed the devaluation in international markets, to relieve the new maximum set in the historic session yesterday, but remains above the barrier of 100 US dollars encouraged by the weakness of the American currency and supported by the expectation that the meeting of tomorrow's OPEC.

The West Texas Intermediate (WTI) [Cot], traded in New York, descended 0.22% to 102.22 US dollars, having reached the 103.95 US dollars at the session yesterday, setting a new record. In London, the "brent" [Cot], which reached a quote in 102.29 US dollars, yesterday lost 0.25% and was being traded 100.23 US dollars.

The prices of raw materials are thus to relieve the maximum historical, but are still negotiating with three digits, supported by the devaluation of the dollar against the euro for the lowest ever. The European currency reached a quote yesterday, we 1.5274 US dollars.

Besides the exchange rate issue, the price continues to support the expectation of the market on the outcome of the meeting tomorrow of the Organization of Exporting Countries (OPEC), Petróelo.

The market fears that the cartel, responsible for 40% of all the oil produced in the world, maintain the current production quota, despite the high values of the raw material, arguing the decision with the prospect of a reduction in demand.