Petrobras Jumps 1.8% as Oil Rallies and Brazilian Real Firms; Vale Sheds 4.6% on Weak Iron Ore

In Brazilian market trading reported by Rio Times Online on Thursday, July 9, 2026 (18 Tir 1405), Petrobras shares rose 1.8% as global oil prices jumped on renewed Iran-US tensions and heightened risk of a Strait of Hormuz shutdown. The United States had said around the same time that it was revoking Iran's oil-sales waiver following recent attacks on tankers in the strait. By contrast, shares in Vale, the world's largest iron ore exporter, fell 4.6% on $413 million in turnover, the most-traded stock on Brazil's B3 exchange, pressured by soft global iron ore prices. The dollar-real exchange rate eased on the day to 5.1157 reais. Brazil's annual inflation rose past 4.8% in the first half of June 2026, above the central bank's 4.5% upper target.