Price of the dollar started the week in Colombia above $4,200

The price of the dollar in Colombia began the week, after the holiday weekend, above $4,200, while the international market faced turbulence due to the fall in oil prices.

(Read: Invías would use $2.1 billion of future validity to advance works).

According to the Colombian Stock Exchange, The US currency closed at an average price of $4,244, that is, it rose 52 pesos compared to the TRM, which was $4,192..

The market reacted to recent geopolitical events, which put downward pressure on crude oil prices.

(Also: WOM and Telecall have not yet started 5G deployment in Colombia).

Oil fell this Tuesday due to press reports that Israel ruled out attacking oil infrastructure in Iran and due to pessimistic data on crude oil demand.

The barrel of West Texas Intermediate (WTI) for delivery in November fell more than 5% at the beginning of negotiations, while North Sea Brent for delivery in December fell 4.73%, to $73.80.

This Monday the Washington Post newspaper reported, citing anonymous sources, that Israeli Prime Minister Netanyahu told the White House that the eventual response to Iran will be limited only to military installations.

(Also: Oil demand would slow in 2024 and 2025).

US President Joe Biden has warned Israel not to attack Iran’s nuclear or oil facilities to avoid a regional escalation and for fear of skyrocketing energy prices. For his part, the executive director of the International Energy Agency (IEA), Fatih Birol, predicted last week “reasonable oil prices” in the coming months due to weakening demand in China.

PORTFOLIO