Brazilian energy equities surged on Thursday, with Petrobras, PRIO, and PetroRecôncavo leading the Ibovespa index higher.
The rally was driven by a sharp rise in global crude oil prices, which climbed on reports of attacks against tankers in the Middle East.
Petrobras shares, which already posted gains of more than 2% on Friday amid similar tensions, continued their upward trajectory as traders assessed the potential impact on global supply chains.
The renewed shipping threats have reignited supply disruption fears, pushing both Brent and Wti benchmarks upward in international markets.
The price action in Brazilian oil stocks reflects a broader repricing of geopolitical risk across energy markets.
Petrobras shares, which already posted gains of more than 2% on Friday amid similar tensions, continued their upward trajectory as traders assessed the potential impact on global supply chains.
The move underscores the sensitivity of energy equities to physical security risks in key shipping corridors.