Brazil’s Ibovespa fell 0.9% to close at 185,814 on Wednesday as investors assessed new election polling, rising oil prices and more hawkish-than-expected minutes from Copom’s latest meeting. An AtlasIntel poll for October’s presidential election showed President Lula with a numerical lead over Senator Flávio Bolsonaro in a potential second-round runoff, although the candidates remained in a statistical tie. Oil prices rose amid uncertainty over diplomatic efforts to end the US-Iran war and reopen the Strait of Hormuz, keeping energy-driven inflation concerns in focus. Financial stocks led declines, with Itaú down 1.9%, Bradesco and Banco do Brasil each losing 2.2%, and Itaúsa falling 1.9%. Sabesp dropped nearly 2.8%, Vale declined 1.8% amid weak profitability among Chinese steelmakers, and Petrobras gained 2.6% as oil prices rose.