PJXC.F is trading 7% up at €7.64 following a sharp jump in global oil prices triggered by renewed U.S.–Iran hostilities and strikes near the Strait of Hormuz.
- Brent and WTI crude benchmarks have both surged more than 6% after a ceasefire was declared over, boosting energy stocks globally.
- As an integrated Brazilian oil and gas major, Petrobras shares typically track the performance of crude oil prices.
- The geopolitical tensions have led to a broad rally across the energy sector as supply concerns intensify.