Ibovespa Surges After Trump Delays Attacks on Iran; Dollar Drops by 1%

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On Monday, the Ibovespa, the main index of the Brazilian Stock Exchange, rose 3.24%, closing at 181,932 points, while the dollar fell 1.29% to R$5.2402, reaching a low of R$5.2146. Oil prices experienced significant volatility following developments in the Middle East. Tensions eased after U.S. President Donald Trump suspended potential attacks on Iranian energy installations, citing productive conversations and Iran’s willingness to reach an agreement. The Department of Defense delayed military strikes on Iranian power and energy facilities for five days to allow discussions to proceed. However, Trump warned that if Iran did not completely and safely open the Strait of Hormuz within 48 hours, the U.S. would bomb Iranian power plants, starting with the largest. This ultimatum followed a week of attacks by Iran on energy infrastructure in the Gulf, including Qatar’s Ras Laffan LNG export terminal, the world’s largest.

Amid these developments, Goldman Sachs increased its Brent crude oil price forecasts to $110 per barrel for March and April, up from a previous prediction of $98, citing fears that Hormuz flows might remain low for six weeks before gradually recovering. Prior to Trump’s announcement, futures prices on Sunday were around $106 per barrel for Brent crude and $97.90 per barrel for West Texas Intermediate (WTI) crude. Later, Goldman Sachs projected average Brent and WTI prices of $85 and $79 per barrel, respectively, for 2026, up from previous estimates of $77 and $72. For 2027, they expect Brent and WTI to average $80 and $75 per barrel, respectively, indicating the market may require a higher risk premium due to increased chances of shortages in longer disruption scenarios. On Truth Social, President Trump stated that Iran had 48 hours to “OPEN THE STRAIT OF HORMUZ COMPLETELY AND SAFELY,” or the U.S. would bomb their power plants.

On Monday, major U.S. stock indexes—the Dow Jones Industrial Average (DJI), S&P 500, and Nasdaq Composite—jumped as President Trump eased concerns about a Middle East war escalation. Oil prices immediately declined. Bitcoin surged 5%, reaching $71,000, and other major cryptocurrencies also rose by around 5%. Gold, which had fallen earlier, traded about 1% lower, and the U.S. dollar weakened. Global bond yields, including the 10-year Treasury, fell sharply. WTI crude dropped 11% and Brent crude fell 8%. Crypto-linked stocks climbed, and tokenized Brent futures saw over $62 million in liquidations on Hyperliquid. Ether, DOGE, Solana, and Chainlink all jumped up to 5% over the past 24 hours. Gold erased almost all its earlier losses, and the U.S. dollar index slipped to 99.3. WTI crude traded below $88 per barrel, while Brent crude fell to around $100 per barrel. The progress in dialogue between Washington and Tehran caused Wall Street’s main indices to close higher. European markets also closed positively, while Asian markets, which closed before the announcement, ended in the red.

Markets Rally as Lula Suggests Petrobras Buys Mataripe Refinery; Oil Prices Volatile Amid Middle East Tension Easing

In other news, President Luiz Inácio Lula da Silva indicated on Friday, according to G1, that Petrobras could repurchase the Mataripe refinery, formerly known as Refinaria Landulpho Alves (RLAM), in Bahia. The price hike during the war reignited debate over reducing state influence on the fuel market. (Note: This text does not necessarily reflect the opinion of Portal Uai.) In summary, markets rallied as President Trump signaled de-escalation in the Middle East, leading to gains in equities and declines in oil prices.

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