Petrobras (PETR4) shares climbed more than 2% on Friday, tracking a broader rally in global energy markets driven by escalating geopolitical risks in the Middle East.
The Brazilian state oil major’s common shares (PETR3) rose 2.08% to R$45.57 by midday, reflecting investor sentiment that renewed military activity between the United States and Iran could constrain global crude supplies.
Brent crude futures advanced for a fourth straight session, buoyed by intensifying fears that US strikes on Iranian installations could trigger a wider conflict and disrupt critical energy flows.
The sustained upward pressure on oil prices has provided a tailwind for upstream producers, with Petrobras benefiting from the higher benchmark environment.
The market move follows a significant escalation in tensions over the weekend, when oil prices initially surged after reports of renewed US military strikes on targets in Iran.
Traders are now pricing in the risk of prolonged supply disruptions, particularly given Iran’s role in global energy markets and the potential for retaliatory actions that could affect shipping routes.