Global crude oil benchmarks extended their decline in the latest session, sliding to levels not seen since before the outbreak of the current conflict.
The sell-off accelerated as market participants processed data indicating softer demand signals, which began to outweigh the persistent supply risks that had previously propped up prices.
WTI crude retreated sharply, reversing earlier gains and setting a negative tone for the broader energy complex.
The price weakness cast a direct shadow over Latin American energy equities, with flagship producers from Brazil to Argentina tracking the move.
Petrobras and YPF faced downward pressure as the decline in the US benchmark dragged on regional sentiment.
The exchange-traded fund tracking US oil exposure, USO, also slipped, reflecting the broad-based nature of the sell-off across energy-linked assets.