The Ibovespa fell nearly 0.5% to trade below 187,000 on Wednesday as escalating Middle East hostilities pushed oil prices higher and renewed inflation concerns. Risks to global energy supplies have increased in recent weeks as the six-month-old conflict intensified. Credit-sensitive stocks, including major banks, weakened, with Itaú and Bradesco each losing about 1%. Utilities also declined, led by Axia, which fell more than 1.5%. Ambev dropped 1% and WEG lost 1.5%, while Vale edged lower as iron ore prices declined. Petrobras moved in the opposite direction, gaining nearly 1.5% as the oil rally strengthened.