Wed 09/18/2019 16:33 PM
Relevant Document:Treasury Ministry ReleaseThe Argentine government authorized a 4% increase in the price of gas fuel and a 5.58% increase in per barrel prices of crude oil for oil producers, according to a press release. The hikes are to be put into effect on Thursday, Sept. 19.
With this new measure, the government is breaking a
90-day price freeze that it had authorized in August. President Mauricio Macri's administration explained that the change was because of the increase in international oil prices after Saudi Arabia suffered an attack on its oil fields, leading to a 14% spike in the price of Brent crude oil in one day.
YPF's 6.95% notes due 2027 increased 1.6 points to trade around 75 on the news.
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