Iron Ore increased to 99.57 USD/T, the highest since June 2026. Over the past 4 weeks, Iron Ore gained 6.1%, and in the last 12 months, it decreased 4.89%.

Iron Ore Hits 9-week High

Brent traded near $95.73 a barrel on Friday and was up more than 8% for the week, marking its strongest weekly performance since July, as the war in the Middle East continued with little prospects of peace. Iran and the US exchanged missile strikes this week, while Israel’s defense minister threatened “crippling” attacks on Iran’s infrastructure, including energy facilities. Meanwhile, US Vice President JD Vance said the US does not plan to hold peace talks with Iran until it stops attacking ships in Hormuz, adding to upward pressure on oil prices as Iran signals its determination to maintain a hard-line response to the latest US strikes. The EU has formally joined the US-led sanctions campaign against Iran, while South Korea said it is considering a military role. The rally could lose momentum if shipments through the Strait increase. Reports on Iraqi oil exports indicate an average of 2.35 million barrels per day in August, mostly shipped through southern routes.

Brent Posts Strongest Weekly Gain Since July

Crude oil traded around $91.2 a barrel on Friday and was up more than 9% for the week, marking its strongest weekly performance since mid-July, as the war in the Middle East continued with little prospects of peace. Iran and the US exchanged missile strikes this week, while Israel’s defense minister threatened “crippling” attacks on Iran’s infrastructure, including energy facilities. Meanwhile, US Vice President JD Vance said the US does not plan to hold peace talks with Iran until it stops attacking ships in Hormuz, adding to upward pressure on oil prices as Iran signals its determination to maintain a hard-line response to the latest US strikes. The EU has formally joined the US-led sanctions campaign against Iran, while South Korea said it is considering a military role. The rally could lose momentum if shipments through the Strait increase. Reports on Iraqi oil exports indicate an average of 2.35 million barrels per day in August, mostly shipped through southern routes.

Crude Oil Posts Strongest Weekly Gain Since July

The Ibovespa inched lower to close at 185,147 on Friday amid rising expectations for a US Fed rate hike in September. US payrolls increased by 162,000, about three times the consensus estimate, boosting rate hike bets. For Brazil, persistently high interest rates in the world’s largest economy  narrow the policy path available to the BCB. The prospect of US interest rates remaining elevated for longer also reduces appetite for risk assets in emerging markets. Underperformers included Axia, down 0.8%, WEG, down 0.6%, and Rede D’Or. Petrobras lost 0.9% despite elevated oil prices, which remained volatile. Fnancial stocks gains limited losses, with Bradesco up 0.6%, Itaúsa adding 1.5%, BB Seguridade rising 1.1%, and Caixa advancing 1.1%. The latest Datafolha poll on the presidential race, released on Thursday, showed President Lula’s lead over Flávio Bolsonaro narrowing. Embraer rose 1.1% as Brazil posted a stronger-than-expected external trade surplus. The index rose 5.4% on the week.

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Iron Ore Hits 9-week High

Brent Posts Strongest Weekly Gain Since July

Crude Oil Posts Strongest Weekly Gain Since July

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