Shares of Brazil’s major oil producers fell sharply on Monday as crude prices retreated following a pause in regional military attacks.
Petrobras (PBR) and PetroRecôncavo (PRIO3.SA) were among the worst performers on the B3 exchange, reflecting the immediate sensitivity of energy equities to shifts in geopolitical risk premiums.
Brent crude futures declined in the session as the temporary cessation of hostilities reduced near-term supply disruption fears.
The price pullback in the underlying commodity directly pressured refining and exploration margins, triggering selling interest across the Brazilian energy sector.
PetroRecôncavo, a smaller-cap player, saw particularly heavy selling pressure alongside the state-owned giant.
The move underscores the continued volatility in energy markets driven by geopolitical developments rather than fundamental supply-demand imbalances.