Petrobras Preferred Shares Rise 2.3% on Higher Oil Prices
By Jeffrey T. Lewis
SÃO PAULO--Petróleo Brasileiro's preferred shares rose 2.3% after world oil prices jumped higher following the violent attacks on Israel by Hamas. Other Brazilian oil companies' shares also rose.
Shares of Petrobras, as the state-controlled oil company is known, reached 34.29 reais, the equivalent of $6.64. 3R Petroleum Óleo e Gás's shares rose 3.8% to BRL29.53, Petroreconcavo's shares advanced 5.0% to BRL20.27 and Prio's shares climbed 3.8% to BRL46.23.
The price of a barrel of Brent crude oil rose more than 3% following the Hamas attacks, and Israel's response, as investors sought a save haven amid the renewed violence in the Middle East.
Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com
(END) Dow Jones Newswires
October 09, 2023 09:45 ET (13:45 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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