Oil prices rise while Brazilian interest rates slip amid US holiday and Middle East tensions

Oil futures closed higher on Friday, with WTI for August up 0.13% to $68.78 a barrel and Brent for September up 0.45% to $72.12. The gains came in a thin‑liquidity session after a U.S. holiday, as traders weighed short‑term supply recovery in the Gulf following the reopening of the Strait of Hormuz and lingering uncertainty over Washington‑Tehran negotiations. OPEC output rose by 2.34 million barrels per day in June, supporting the view of ample short‑term supply, though analysts warned that geopolitical risks remain.

In Brazil, futures contracts on the Interbank Deposit (DI) rate fell on the same day, with the January 2027 contract slipping to 14.00% from 14.043% and longer‑dated contracts also retreating by about 10 basis points. The decline was driven by reduced market liquidity, a weaker dollar and weaker industrial activity data, alongside comments from Treasury executive Rogério Ceron that the government stands ready to intervene in the public‑debt market if needed. Analysts noted the move reflected short‑term liquidity concerns rather than a fundamental shift in Brazil’s fiscal outlook.