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24.03.202614:20:54UTC+00Ibovespa Falls as Oil Rises Again

The Ibovespa declined nearly 1% on Tuesday, slipping below the 181,000 mark as a rebound in oil prices weighed on the global economic outlook. Concerns over energy supply resurfaced after Iran denied engaging in talks with the United States to end the conflict in the Gulf, contradicting comments by Trump about a potential agreement.

In addition, minutes from the Central Bank of Brazil indicated that policymakers reiterated their view that the recent rise in oil prices could limit the scope for interest rate cuts previously expected for this year.

Major banks were under pressure: Itaú fell 1.4%, while Bradesco declined nearly 2%. Utilities also retreated, with Axia slipping close to 2% and Sabesp losing more than 1%. In contrast, higher oil prices boosted energy stocks, with Petrobras gaining around 3%.

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