Key Facts
USO closed up 2.77% at US$134.54 as investors priced in persistent Strait of Hormuz supply risk and a broader Middle East geopolitical premium into the WTI-tracking fund.
Petrobras gained 2.54% to US$19.01 supported by record Q2 pre-salt output of 2.78 MMboe/d and the Tupi field crossing 4 billion barrels of cumulative production.
Ecopetrol fell 1.34% to US$17.65 bucking the regional trend even as the Colombian state firm is among 19 qualified bidders for the fourth cycle of Brazil’s permanent production-sharing offer.
YPF rose 1.72% to US$50.92 recouping some of Wednesday’s 3.83% drop as Vaca Muerta shale expectations continued to drive the Argentine producer more than daily Brent moves.
