U.S.-Iran clashes lift oil, push Brazil’s real and stocks lower
Renewed attacks between the United States and Iran have driven Brent crude up about 2 % to roughly $91 per barrel, the highest in five weeks, as military strikes and threats from Yemen’s Houthi rebels raise concerns over the Strait of Hormuz and Red Sea shipping. Three Saudi‑laden tankers rerouted around Africa, adding weeks and fuel costs to deliveries. President Donald Trump warned of possible strikes on Iranian targets and hinted at opening the straits.
The oil price surge has reverberated through financial markets. In Brazil, the dollar slipped to around R$5.07‑5.09 as high local interest rates and the stronger oil price boosted the real and trade surplus. The Ibovespa fell about 0.2 % for a fourth consecutive session, pressured by miner shares despite gains in Petrobras. Similar inflows helped Wall Street’s technology stocks rebound, while European indices posted modest gains aided by the same oil relief. Gold rose on the commodities front, and discussions in the Gulf about a possible toll for Hormuz navigation added a diplomatic layer to the market dynamics.