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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

Wildfires in France Burn Nearly Three Times More Land Than in 2025, Interior Minister Says

More than 50,000 hectares of land have been destroyed by wildfires across France since the beginning of the year, nearly three times the area affected during the same period in 2025, French Interior Minister Laurent Nuñez said Friday in an interview with AFP.

Emergency crews are currently battling several major fires, including one near the popular Cap Ferret peninsula, where flames have already consumed more than 10,000 hectares, making it the largest wildfire of the season so far, according to the minister.

“Currently, we have 32 fires underway, which obviously do not all have the same level of importance,” Nuñez said.

“We have exceeded the threshold of 50,000 hectares burned since January 1 of this year. It is practically three times more than during the same period last year,” he added.

Despite the extensive resources deployed and the long hours worked by emergency teams — estimated to be two and a half times higher than last year — Nuñez said authorities remain “calm” and “determined” to contain the situation.

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The minister acknowledged that the main concern is the fatigue affecting firefighters and emergency personnel who have been working under demanding conditions.

“The concern, if there has to be one, obviously lies in the state of exhaustion of the men and women who are committed. We have to hold on throughout the entire season,” Nuñez said.

France’s late spring and early summer have been marked by repeated periods of extreme heat, conditions linked by scientists to climate change and considered a major factor contributing to the increase in wildfire activity across the country.

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International

Israel Says Saudi Recognition Would Mark ‘Historic Breakthrough’ for Middle East Peace

The office of Israeli Prime Minister Benjamin Netanyahu said Thursday that Saudi Arabia’s recognition of Israel would represent a “historic breakthrough” toward achieving peace in the Middle East.

The statement came after the United States and Saudi Arabia announced an agreement on Wednesday to establish a civil nuclear program in the kingdom. U.S. President Donald Trump said the initiative would be linked to Riyadh’s decision to normalize diplomatic relations with Israel.

“Saudi Arabia joining the Abraham Accords would represent a historic breakthrough toward peace in the Middle East,” Netanyahu’s office said following Trump’s announcement.

The statement added that recent developments, including joint military actions by the United States and Israel against Iran, as well as Israel’s efforts against what it described as Iran’s “terror axis,” have created new opportunities to expand regional diplomatic ties.

“The joint U.S.-Israeli military action against the genocidal regime in Tehran and Israel’s defeat of Iran’s terror axis have created the possibility of expanding the circle of peace,” the statement said.

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A potential normalization agreement between Israel and Saudi Arabia would represent a major diplomatic shift in the region, as Riyadh has long been viewed as one of the key countries whose formal recognition could significantly reshape Middle Eastern relations.

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International

Nicolás Maduro’s Son Calls U.S. Trial Against His Father and Cilia Flores “Unjust”

Venezuelan lawmaker Nicolás Maduro Guerra on Wednesday described as “unjust” the legal proceedings in the United States against his father, ousted Venezuelan President Nicolás Maduro, and his wife, Cilia Flores, following their capture in Caracas on January 3 by U.S. forces.

“Faced with the unjust trial taking place today, the people raised their voices with a single demand: We demand the immediate release of President Nicolás Maduro and the First Lady,” Maduro Guerra wrote on his Instagram account.

The lawmaker attended a rally in Caracas where supporters of the ruling United Socialist Party of Venezuela (PSUV)gathered to show support for the former president, who faces charges in the United States including conspiracy to commit narco-terrorism and cocaine importation. Flores is accused of crimes related to drug trafficking and weapons possession.

The event was also attended by PSUV Vice President for Mobilizations and Events Nahum Fernández and Caracas Mayor Carmen Meléndez, according to photos shared by Maduro’s son.

The third hearing in the case against Maduro and Flores concluded Wednesday at a federal court in New York after lasting only about 18 minutes. During the hearing, the judge preliminarily set June 2027 as the expected start date for the trial.

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One of the main arguments from the defense will focus on immunity. Maduro’s lead attorney, Barry Pollack, who has also represented WikiLeaks founder Julian Assange, said the defense plans to request immunity for both defendants, arguing that Maduro was serving as head of state and Flores as first lady at the time of their detention.

Both Maduro and Flores pleaded not guilty during their first court appearance in New York on January 5.

Meanwhile, Venezuela’s interim president Delcy Rodríguez, who assumed power after Maduro’s capture, has not yet commented on Wednesday’s hearing in the United States.

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