Dollar Falls and Closes at R$5.21

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Last week, Sam and Tom disagreed over a business deal. Sam accused Tom of misrepresenting financial figures, but Tom insisted the numbers were accurate. As tensions rose, they agreed to involve their lawyer, John, to mediate the dispute. After hearing both sides, John concluded that a discrepancy existed in the figures. He advised Sam and Tom to correct the error and fairly renegotiate the deal. Both parties accepted his advice and are working to resolve the issue amicably. On Thursday the 19th, the dollar fell by 0.58%, trading at R5.2152. Brazil’s main stock index, Ibovespa, rose 0.35%, reaching 180,271 points. The day saw increased caution amid rising oil and natural gas prices after new attacks by Iran on energy installations. However, a speech by Israeli Prime Minister Benjamin Netanyahu brought some relief to markets. He suggested the conflict might not be prolonged, stating that the U.S. and Israel were winning, while Iran was being decimated. Netanyahu added that Iran’s missile and drone arsenal was heavily degraded and would be destroyed. The dollar, which had been rising, began to fall after his statement.

Sources suggest Iran is considering allowing some tanker traffic through the Strait of Hormuz in exchange for payments in Chinese yuan. However, Iranian state media has not confirmed this, and the proposal could be a negotiating tactic. Discussions are also underway about building payment infrastructure to bypass the dollar system, such as China’s Cross-Border Interbank Payment System (CIPS). Increased use of CIPS could lessen the impact of U.S. economic sanctions. Following these developments, U.S. President Donald Trump claimed Netanyahu pledged not to attack Iranian energy fields, quoting himself as saying, “I told him: Don’t do it, and he won’t.” On Thursday, Iran announced a new phase of war, targeting U.S.-linked energy structures in the Gulf in retaliation for Israel’s attack on the world’s largest gas field in Iranian territory. This action triggered a surge in oil and natural gas prices. The Brent benchmark reached its highest level in over a week, exceeding $115 per barrel. Around 5 PM on Thursday, the future price of natural gas in Europe recorded an almost 12% rise; earlier, it had jumped by 35% in the region.

Middle East Conflict Boosts Oil Prices; Brazil Proposes ICMS Waiver for Fuel to Curb Diesel Hikes

Amid the oil surge caused by the Middle East conflict, the Brazilian government is trying to curb diesel price hikes during an election year. G1 reports that the proposal is to eliminate the ICMS on imported fuel until the end of May, with the federal government compensating half of the states’ losses. Note: This text does not necessarily reflect the opinion of Uai Portal.

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