{
  "id": 2965148,
  "title": "Oil Wrap: WTI Proxy Steady as LatAm Supply Shifts",
  "url": "https://urgent.news/2026/08/24/oil-wrap-wti-proxy-steady-as-latam-supply-shifts",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-24T06:37:34.000Z",
  "source": {
    "name": "The Rio Times",
    "slug": "the-rio-times",
    "url": "https://www.riotimesonline.com/oil-markets-latam-monday-august-24-2026/"
  },
  "original_language": "en",
  "account": "Oil markets saw a flat closing on Friday, August 21, with the US$134.64 WTI proxy, USO, barely moving 0.07% higher, while the front-month WTI futures contract finished at US$87.06 per barrel, up 0.3%. This flatness resulted from contrasting forces: the Strait of Hormuz remained nearly blockaded, which would typically support crude prices, but Iraq announced plans to double production within six years, offering a supply-side counterbalance. Latin American oil equities largely remained indifferent to the macroeconomic noise, with Petrobras rising 0.74%, YPF increasing 0.51%, and Colombia's Ecopetrol declining 0.68%. The regional focus was on structural supply shifts, rather than the day's flat crude print. Key developments included Guyana's oil profits milestone, YPF's LNG push in Argentina, and Pemex-Petrobras' deepwater project in Mexico. Overall, Latin America is positioning itself for a market where its exports hold more significance than the steady crude prices observed on Friday.",
  "summary": "USO held near US$134.64 Friday as Hormuz risk met Iraq supply talk. Petrobras rose 0.74%, YPF 0.51%; Guyana cost recovery and Pemex deepwater bets framed the La The post Oil Wrap: WTI Proxy Steady as LatAm Supply Shifts appeared first on The Rio Times .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}