International

Brazil’s Petrobras hikes prices, ignoring Bolsonaro

AFP

Brazilian state-run oil company Petrobras announced hefty increases in gasoline and diesel prices Thursday in response to the Ukraine crisis, ignoring President Jair Bolsonaro’s criticism of what he calls excessive prices.

Petrobras said it would raise the price of gasoline from its refineries by 18.8 percent and diesel by 24.9 percent from Friday, citing the “worldwide surge in the prices of oil and oil derivatives as a result of the war between Russia and Ukraine.”

The company said the move was in line with increases by other fuel suppliers, and emphasized that it had not raised prices in nearly two months.

But the move will likely irk the far-right president, who has been trying to rein in surging fuel prices and inflation more broadly, phenomena which are hurting his popularity as he gears up to seek reelection in October.

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Bolsonaro, who regularly criticizes Petrobras for high prices, said Monday the company’s policy of parity with international prices “cannot continue.”

Petrobras shares dove more than seven percent following the comment.

That echoed a stock plunge of more than 20 percent just over a year ago, when Bolsonaro changed Petrobras’s chief executive after saying the company should not be constantly “surprising people” with price increases.

Bolsonaro is pushing for Congress to pass legislation to bring fuel prices down, though experts say the short-term impact would be minimal.

He is also reportedly looking at decreeing emergency subsidies to lower prices.

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Both measures are unpopular with fiscal conservatives.

Surging prices in Brazil, where the annual inflation rate stands at 10.38 percent, are a weak spot for Bolsonaro as he eyes a tough reelection battle in seven months, likely against leftist ex-president Luiz Inacio Lula da Silva.

The international oil market has been rocked by volatility since Russia invaded Ukraine two weeks ago.

The Brent crude price hit a peak of $139 a barrel Monday, a 14-year high, before falling to around $116 Thursday.

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International

Oil prices surge again as Middle East tensions persist

Oil prices climbed again on Friday for a second consecutive session, as markets remained concerned about a prolonged conflict in the Middle East with no tangible diplomatic progress.

North Sea Brent crude for May delivery rose 4.22% to close at $112.57 per barrel.

Meanwhile, U.S. West Texas Intermediate (WTI) approached the $100 mark, settling at $99.64, up 5.46%.

The decision by U.S. President Donald Trump to delay by ten days his ultimatum for the reopening of the Strait of Hormuz failed to reassure market participants.

“It means there will be ten additional days of disruptions in the Middle East for crude and refined product flows,” said Andy Lipow, of Lipow Oil Associates.

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“For prices to come down, a resolution to the conflict is necessary,” Lipow added. “And even in the event of a ceasefire, it is not certain that Iran would allow oil shipments to pass through the Strait of Hormuz.”

International

Young Spanish Woman Receives Euthanasia After Legal Battle, Sparking Debate

A 25-year-old Spanish woman, Noelia Castillo, received euthanasia on Thursday following a prolonged legal dispute with her father.

She passed away at a care center in Sant Pere de Ribes, about 40 kilometers from Barcelona, where she had been living for some time, according to Spanish media reports.

In an interview broadcast a day earlier on Antena 3, Castillo expressed her exhaustion after enduring prolonged suffering. She indicated that her decision was influenced by a combination of personal circumstances and health-related challenges, including family conflicts and a condition of paraplegia following a previous incident that left her with lasting physical consequences.

Spain legalized euthanasia in 2021, becoming one of the few countries that allow patients under strict conditions to seek medical assistance to end their lives in order to avoid what the law defines as unbearable suffering.

The case has reignited debate in Spain over the ethical, legal, and family dimensions surrounding euthanasia, as well as the broader issue of support for individuals in vulnerable situations.

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International

Over 300 U.S. Troops Wounded Since Start of Iran Conflict, CENTCOM Says

More than 300 U.S. service members have been injured since the start of the conflict with Iran on February 28, the United States Central Command confirmed on Friday.

“Since the beginning of Operation Epic Fury, approximately 303 U.S. service members have been wounded. The vast majority of these injuries are minor, and 273 troops have already returned to duty,” said U.S. Navy Captain Tim Hawkins.

A U.S. official, speaking on condition of anonymity to AFP, indicated that 10 American troops remain seriously injured.

According to the latest figures, an additional 13 U.S. service members have been killed since the conflict began, including seven in the Gulf region and six in Iraq.

Meanwhile, Iran’s armed forces warned on Friday that hotels hosting U.S. troops in the region could be considered legitimate military targets.

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“When U.S. forces enter a hotel, from our perspective that hotel becomes American,” said armed forces spokesperson Abolfazl Shekarchi in remarks broadcast on state television.