Brazil’s Ibovespa fell about 0.5% to below 184,000 on Friday as energy stocks declined alongside weaker oil prices. Petrobras dropped more than 1% and Prio nearly 2% after reports that the United States and Iran were considering an agreement to reopen the Strait of Hormuz and lift the U.S. blockade on Iranian ports. Lower oil prices eased pressure on credit-sensitive sectors facing concerns over energy-driven inflation, but Brazil’s mid-month inflation reading exceeded forecasts and capped gains. Financial stocks edged higher, while utilities advanced after Axia approved up to R$4 billion in additional capital allocation tied to second-quarter results for the redemption of Class C preferred shares. Magazine Luiza gained nearly 3% after S&P reaffirmed its brAA- rating. WEG was little changed after announcing an expansion of its project to build a battery energy storage systems plant in southern Brazil.