The rise in global oil prices due to conflicts involving the US and Israel has raised concerns within Lula's government in Brazil about its potential impact on his popularity.
The Brazilian government, led by President Lula, is increasingly worried about the surge in oil prices driven by the ongoing conflict involving the United States and Israel against Iran. This rise in prices, particularly for gasoline and diesel, is anticipated to have significant repercussions on public sentiment towards Lula, especially with elections approaching. The Brent crude oil price has seen a dramatic increase from $72 to nearly $120 per barrel since the start of the conflict, with prices fluctuating and threatening to rise further.
