International

Petrobras shares fall after Bolsonaro fires its boss

AFP

The price of shares in Brazil’s state oil giant Petrobras fell Tuesday in reaction to President Jair Bolsonaro firing its boss after only 40 days on the job.

Bolsonaro dismissed Petrobras CEO Jose Mauro Coelho on Monday in a tug-of-war over rising fuel prices, which are set by Petrobras but tied to international market movement.

Petrobras shares lost more than four percent in afternoon trade on the Sao Paulo Stock Exchange, before recovering somewhat to 2.85 percent lower than Monday’s worth.

The movement reflects investor concerns of a possible intervention by the State, the main shareholder in Petrobras, in its autonomous pricing decisions.

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Coelho took over last month for what should have been a one-year term. He became the company’s third CEO in just over a year after Bolsonaro also fired his predecessors.

Fuel prices in Brazil have risen more than 33 percent in the past year, according to official figures, driving annual inflation of more than 12 percent and hurting Brazilians’ wallets in an election year.

The far-right Bolsonaro trails leftist ex-president Luiz Inacio Lula da Silva in opinion polls ahead of elections in October.

Brazil’s Ministry of Mines and Energy announced Coelho’s dismissal, saying the country was “experiencing a challenging moment, due to the effects of the extreme volatility of hydrocarbons in international markets.”

The government has proposed for Coelho to be replaced by Caio Mario Paes de Andrade, an official in the Economy Ministry.

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He must be confirmed by the company’s board of directors.

Earlier this month, Bolsonaro also replaced his longtime energy minister, Bento Albuquerque, days after Petrobras reported record quarterly profits.

Bolsonaro said those profits amounted to “rape,” and called on Albuquerque and Coelho to stop Petrobras from raising prices.

Petrobras went on to hike diesel prices by an additional 8.9 percent.

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International

Trump orders U.S. control of Strait of Hormuz after failed Iran talks

U.S. President Donald Trump announced on Sunday that the United States will take control of the Strait of Hormuz“effective immediately,” following the collapse of negotiations with Iran held in Islamabad.

In a post on Truth Social, Trump said he had ordered the U.S. Navy to block vessels attempting to enter or exit the strategic waterway, a key route for global energy trade.

“The meeting went well, agreement was reached on most points, but the only really important one — nuclear weapons — was not approved,” Trump said, referring to the talks with Iranian representatives.

The president also stated that he had instructed authorities to intercept ships in international waters that had paid tolls to Iran to transit the strait, calling such payments “illegal.” He further accused Tehran of hindering an agreement by deploying mines in the area, describing the move as “international extortion.”

Trump added that the United States will undertake efforts to clear mines from the strait and expressed confidence that a future agreement ensuring free navigation could eventually be reached.

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The announcement came after Vice President JD Vance and special envoys Steve Witkoff and Jared Kushner briefed the president on the outcome of the negotiations, considered the highest-level contacts between the two countries since the 1979 Islamic Revolution.

While Trump acknowledged that enough progress had been made to maintain a temporary truce, he criticized Iran for remaining unwilling to abandon its nuclear ambitions, calling its position “very inflexible” on the central issue.

International

Child Found Malnourished in Van in France; Father Admits Confinement

French gendarmes discovered a child in a van in Hagenbach, in northeastern France, after a neighbor reported hearing what she described as “childlike noises” coming from the parked vehicle.

After unlocking the van, officers found the boy lying in a fetal position, unclothed and covered with a blanket, surrounded by garbage and near human waste, according to a statement from the Mulhouse prosecutor, Nicolas Heitz.

Authorities said the child appeared pale and severely malnourished. Due to prolonged confinement in a seated position, he was no longer able to walk. He was immediately taken to a hospital in Mulhouse for medical care.

The boy’s father, who lived with his partner and two daughters aged 10 and 12, admitted to keeping the child confined and depriving him of proper care.

According to the prosecutor, the man said he placed the child in the van in November 2024, claiming he wanted to “protect him” because his partner intended to have the boy admitted to a psychiatric facility.

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The suspect also stated that he allowed the child out of the vehicle in May 2025 and permitted him to enter the family apartment around mid-year, when the rest of the family was on vacation.

The man’s partner—who is not the child’s mother—also faces charges, including failure to report abuse. However, she has denied all accusations.

International

Europe Faces Jet Fuel Shortage Risk Amid Hormuz Disruption

The Airports Council International Europe has warned of a potential “systemic shortage” of jet fuel if maritime traffic through the Strait of Hormuz is not restored within the next three weeks, according to a letter reviewed by AFP on Friday.

In the document, addressed to the European Commission and first reported by the Financial Times, the European airport lobby stated that a “systemic jet fuel shortage will become a reality” in the European Union unless stable and significant transit through the strait resumes soon.

The association, which represents around 600 airports across 50 countries, called on Brussels to implement “urgent monitoring of fuel availability and supply” over the next six months.

Jet fuel prices have surged amid the conflict in the Middle East and the ongoing disruption in the Strait of Hormuz, a critical chokepoint for global energy transport.

The conflict escalated on February 28 following joint U.S. and Israeli airstrikes against Iran.

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In response, Tehran imposed several countermeasures, including blocking maritime traffic through the strait, a route through which roughly 20% of the world’s oil, jet fuel, and gas supply passes.