Brent crude prices have pulled back sharply from recent highs, falling approximately 12% as markets digest growing hopes for a ceasefire in the Middle East.
The retreat from the war-induced peak suggests that immediate supply disruption fears are easing, though the Strait of Hormuz remains a focal point for shipping risk.
Washington has imposed a 25% tariff on a broad range of goods imported from Brazil, marking a sharp escalation in transatlantic trade tensions.
This price correction offers temporary relief to import-dependent economies in Latin America, where fuel costs have been a primary inflation driver.
Simultaneously, the region is grappling with a significant trade policy shock from the United States.
Washington has imposed a 25% tariff on a broad range of goods imported from Brazil, marking a sharp escalation in transatlantic trade tensions.
The measure, announced earlier this week, targets a wide selection of Brazilian exports, threatening to disrupt established supply chains and weigh on the Brazilian real.