Brazil Daily

🛢️📈 A stress test for Petrobras

Good morning! Today, a look at how the Ukraine-Russia conflict will affect Petrobras and Embraer, two staple Brazilian companies. And a window of opportunity for candidates to rally support.

Petrobras holding oil prices despite war

petrobras Fuel prices have skyrocketed during the pandemic. Photo: Wirestock Creators/Shutterstock
Fuel prices have skyrocketed during the pandemic. Photo: Wirestock Creators/Shutterstock

Though its prices are pegged to international rates, Brazilian oil and gas giant Petrobras has not announced new gasoline and diesel price hikes in the country for the last 50 days. During that span, Brent oil futures went up by 37 percent — meaning that Petrobras is selling diesel and gasoline 27 and 24 percent below import parity prices, per consultancy Stonex.

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