Brazil’s Ibovespa rose 0.1% to close at 167,927 on Thursday, helped by commodity-related stocks. Petrobras gained 2.8% and PRIO rose 0.8% as oil futures climbed, with prices supported by the increasingly distant prospect of a resolution to the war with Iran after US President Donald Trump announced measures intended to hurt Iran’s economy. Vale jumped 2.6% despite weaker Chinese iron ore futures. Steelmakers remained under pressure amid expectations of a possible Canada-US agreement that could reduce US tariffs on Canadian steel and make Brazilian producers less competitive; Gerdau fell 2.5%. Banks declined as higher bond yields reflected concerns about energy-driven inflation, with Banco do Brasil down 0.2%, Bradesco off 1.7% and Itaú losing 2.2%. Ultrapar gained 1.1% after brokerages raised their price targets, while Marcopolo advanced 6.5% following announcements of a share buyback and dividend.