🔴 Petroleo Brasileiro Petrobras SA is trading 4.7% down today as oil prices drop on U.S.-Iran peace deal and Strait of Hormuz reopening

Petroleo Brasileiro Petrobras SA is trading 4.7% down at $17.51 as global crude prices drop following a tentative U.S.-Iran peace agreement and the reopening of the Strait of Hormuz.

• Brent and WTI crude futures are sliding on easing supply risks, weighing heavily on shares of major oil producers.
• The decline reverses a portion of the stock's recent multi-day gains, despite a broader rally in U.S. equities.