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.
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.
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.
International
Heat wave puts more than 70 million Americans under alerts as temperatures near 46°C
More than 70 million people remained under heat alerts Monday as an intense heat wave continued across the southern United States, particularly Florida and states along the Mexican border, where temperatures and heat indexes could reach as high as 46 degrees Celsius, according to the National Weather Service (NWS).
Several cities recorded or tied temperature records over the weekend and into Monday, including Miami and Fort Lauderdale in Florida; Laredo, Borger and Austin’s airport in Texas; Atlanta, Georgia; Raleigh and Charlotte, North Carolina; and Memphis, Tennessee.
The NWS warned that the heat wave will continue affecting the southern and southeastern United States, with maximum temperatures expected to remain near 38°C to 40°C for several days. The heat index, which combines temperature and humidity to estimate how hot conditions feel, could reach 46°C.
The extreme heat is also spreading into the Southwest, where temperatures began rising again between Monday and Tuesday. Forecast highs in the region range from about 38°C to 43°C.
Heat alerts remain in effect across Nevada, Arizona and California, including areas in southern Arizona and California near the Mexican border, as authorities warn of the risks posed by prolonged extreme temperatures.
The NWS urged residents to limit outdoor activity, stay hydrated, ensure access to air conditioning or cooling centers, and check on vulnerable friends, neighbors and family members.
The United States is experiencing a summer marked by above-average temperatures and repeated heat waves. One of the most intense episodes occurred during the July 4 weekend, when extreme heat was blamed for roughly 30 deaths.
July was the hottest month ever recorded in the United States since measurements began, with the average temperature across the contiguous country approaching 25°C, according to the National Oceanic and Atmospheric Administration (NOAA).
The combination of extreme heat and drought conditions has also fueled wildfires. Nearly 3 million hectares have burned across the country so far in 2026, making it the largest area affected by wildfires in a decade.
International
Trump warns Iran over nuclear ambitions as U.S.-Iran ceasefire deadline passes
U.S. President Donald Trump reiterated Monday that Iran must never be allowed to obtain a nuclear weapon, as a 60-day deadline set under a memorandum of understanding between Washington and Tehran expired without an agreement to end the conflict in the Middle East.
“The number one goal is, and always will be, that Iran cannot have, in any way or under any circumstances, a nuclear weapon,” Trump wrote in a post on his Truth Social platform.
The memorandum, signed on June 17, called for an “immediate and permanent cessation of military operations on all fronts” as part of a broader negotiation process aimed at ending the conflict. However, the deadline expired Monday without a peace agreement, while both Washington and Tehran continued to maintain their respective positions.
The expiration is largely symbolic, as military clashes resumed during the 60-day period. The Strait of Hormuz also remains blocked, contributing to elevated global oil prices.
Trump escalated his rhetoric toward Tehran last Friday, saying he planned to declare the Strait of Hormuz U.S. territory after defeating Iran.
“After we finish defeating Iran, which is being very badly defeated, very soon I will essentially declare the Strait of Hormuz U.S. territory,” Trump said during a political rally in Long Island, New York. He also claimed that the United States currently controls the passage of vessels through the strategic waterway.
Meanwhile, U.S. Treasury Secretary Scott Bessent said Washington is preparing additional economic measures against Iran that he described as unprecedented.
“Stay tuned for new announcements next week because we are going to implement measures unlike anything ever seen in the history of the economic isolation of a country,” Bessent said.
The Treasury secretary indicated that the measures would form part of a broader “double hit” strategy that could also involve maintaining the blockade of Iranian ports.
International
Brazil’s Lula and Flávio Bolsonaro kick off election campaigns amid focus on crime
Public security took center stage Sunday as Brazilian President Luiz Inácio Lula da Silva and Senator Flávio Bolsonaro formally launched their election campaigns, positioning themselves as the leading rivals ahead of the October presidential vote.
Lula, who leads most opinion polls, kicked off his campaign at the Vila Euclides stadium in São Bernardo do Campo, in São Paulo state, while Bolsonaro held his event in Rio de Janeiro, a political stronghold of his family.
During his speech, Lula announced plans to create a new Ministry of Public Security aimed at strengthening coordination between the federal government and Brazil’s states in the fight against crime.
The president pledged a tougher strategy to reclaim territories controlled or influenced by criminal groups. The proposed ministry would help “share responsibilities with the states” and confront those who seek to control favelas and impoverished neighborhoods, Lula told supporters.
The initiative places public security at the heart of Lula’s campaign as he seeks another term in office amid persistent concerns over crime and organized criminal activity in Brazil.
Lula also used his first campaign speech to reinforce his position as a leading figure of Brazil’s left and to criticize his political opponents on the right.
“I will not allow the right to take power,” Lula said, accusing his opponents of having previously mocked children who died because they lacked access to medicine.
“I don’t know what future these people imagine for the Brazilian people,” he added.
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Trump warns Iran over nuclear ambitions as U.S.-Iran ceasefire deadline passes
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Brazil’s Lula and Flávio Bolsonaro kick off election campaigns amid focus on crime
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