The price of Brent crude oil surged over 8% to $78.30 a barrel on Monday, March 2, 2026, as markets reacted to a joint military operation conducted by the United States and Israel against targets in Iran over the weekend. The attack has prompted concerns about potential disruptions to global oil supplies, particularly following the Iranian Revolutionary Guard’s decision to close the Strait of Hormuz, a critical waterway for oil tankers.
According to experts, the duration of the conflict will be a key factor in determining the extent of the price increase. Some analysts suggest that a prolonged escalation could push prices towards $100 a barrel. The Strait of Hormuz, through which approximately 20% of the world’s oil production passes, is a major chokepoint and its closure would significantly impact global energy markets. Iran has previously threatened to close the strait during periods of international tension.
In a move intended to mitigate potential supply shortages, the OPEC+ group announced on Sunday an agreement to increase oil production by 206,000 barrels per day starting April 1st, adding to the existing 1.65 million barrels already being produced. However, the impact of this increase may be limited if the conflict in the Middle East intensifies.
The attacks are also expected to have broader economic consequences. A sustained rise in oil prices could set pressure on global supply chains and contribute to inflationary pressures.
On the corporate front, several companies are reporting earnings this week. Petrobras is scheduled to release its fourth-quarter 2025 results on Thursday, March 5th, after market close. Other companies reporting this week include Auren, Embraer, Ultrapar, and Hidrovias do Brasil.
Pague Menos reported a 72.2% increase in adjusted net profit for the fourth quarter of 2025, reaching R$132.7 million. The company is also considering a secondary public offering of shares, potentially raising funds through the sale of 70 million shares. Oceanpact Serviços Marítimos has entered into an agreement to merge with CBO Holding, creating a larger marine support company with a combined fleet of 73 vessels and approximately R$13.6 billion in existing contracts, pending regulatory approval from the Conselho Administrativo de Defesa Econômica (Cade).
Fitch Ratings downgraded Cosan’s long-term issuer default ratings to ‘BB-’ from ‘BB’, placing them on negative watch, citing concerns about the company’s financial structure and its reliance on asset sales to reduce debt. Totvs completed its acquisition of Chatbot Maker Tecnologia da Informação, a specialist in conversational commerce solutions, for R$28 million, following approval from the Cade. MBRF cancelled 35.7 million shares held in treasury, reducing the number of outstanding shares.
Several companies are also scheduled to distribute dividends and interest on equity this week, including Itaú, Banestes, Bradesco, BB Seguridade, Allos, Vale, Banco do Brasil, and Itaúsa. Investors should note the respective “data com” (record date) to be eligible for these distributions.
