From The Rio Times · Diego Fernández · · 1m 50s
Oil Fund Rises 1.70% as Latin American Shares Fall
Oil fund gains 1.70% while Latin American oil producers drop.
In brief
Oil fund gains 1.70% while Latin American oil producers drop. USO crude fund rose 1.70% to US$162.51 as Middle East supply fears pushed Brent above US$112, but Latin American oil shares fell. Originally reported by The Rio Times.
Oil Fund Gains 1.70%
The USO crude-oil fund rose 1.70% to US$162.51 on Thursday 22 October.
Brent Crude Rises
Brent crude traded above US$112 a barrel on Middle East supply fears.
Latin American Oil Shares Fall
Petrobras lost 0.16% to US$25.62, Ecopetrol fell 1.33% to US$17.01 and YPF slid 2.38% to US$49.17.
Market Split
The split shows that investors judge each company and country separately, and that falling shares reflected a global sell-off in risk assets.
China's Oil Stockpiles
China is drawing on its oil stockpiles, which hold about 1.2 to 1.3 billion barrels.
Prediction Markets
Polymarket gives 39.5% to WTI touching US$105 in October (US$3.9 million traded, read 8:30 pm ET, 22 October).
Latin American Market Impact
The Nasdaq fell about 2.6%, which weighed on all risk assets.
Petrobras Performance
Petrobras slipped 0.16% to US$25.62, showing the most resilience among Latin American oil producers.
Ecopetrol Decline
Ecopetrol fell 1.33% to US$17.01 in New York and 1.64% in Bogotá, indicating concerns beyond oil prices.
YPF Decline
YPF lost 2.38% to US$49.17 despite Argentina’s Vaca Muerta shale basin, with country risk rising above 700 basis points.
Market Outlook
The near-term path for crude depends on Middle East events and whether China keeps drawing on stocks instead of buying barrels.
Latin American Equities Test
For Latin American equities the test is whether Petrobras, YPF and Ecopetrol can catch up if crude stays high.
What to Watch
Middle East supply news, China’s stockpiles, Brazil’s runoff (Sunday 25 October), and Argentine country risk are key factors.
What matters most
USO crude fund rose 1.70% to US$162.51 as Middle East supply fears pushed Brent above US$112, but Latin American oil shares fell.
