On Thursday, oil futures prices saw a notable increase, rising over 2% as analysts weighed the potential risks of military action by the United States against Iran. The Brent crude oil, a major global benchmark, climbed by as much as 2.36%, reaching $72.01 per barrel, which marks its highest price since June 23, 2025, coinciding with previous Iranian attacks on American military bases in the region. Likewise, U.S. benchmark West Texas Intermediate (WTI) oil prices mirrored this upward trend, hitting $66.78 per barrel, a peak not seen since August 2025.

The surge in oil prices has implications beyond the commodity market; it has also influenced the Brazilian stock market significantly, with shares of Petrobras being a significant contributor to over a 1% increase in the country's stock exchange on that day. The ordinary shares of Petrobras, which allow holders to vote in corporate meetings and participate in strategic decisions, surged by 3.16%. This correlation between rising oil prices and stock performance emphasizes the effects of geopolitical tensions on economic activities in Brazil, highlighting the interdependence between international oil prices and local markets.

Industry experts are closely monitoring the developments, as continued escalations in U.S.-Iran relations could lead to sustained volatility in oil prices. Any military actions could not only affect the supply chain of crude oil but also ripple through global markets, making this a critical issue for investors and policymakers alike. As such, this situation underscores the importance of geopolitical factors in the commodity markets and their potential impact on economic health domestically and internationally.