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(Bloomberg) -- Brazilian oil producer Petrobras outperformed expectations after supply disruptions stemming from the US-Iran conflict lifted second-quarter prices for crude, gasoline and diesel.Most Read from BloombergIran Says Agreement on Hormuz Shipping Reached With OmanWhy Do Data Centers Use So Much Fresh Water?Google AI Veterans Depart During Seismic Leadership ShiftIshbia’s Mortgage Firm Suffers Record Drop on Dividend HaltTrump Made Calls to Warsh in Latest Sign of Bid to Influence FedTh

The setup for iShares MSCI Brazil ETF (NYSEARCA:EWZ) in 2026 only looks obvious in hindsight. Brazil’s central bank spent much of last year holding the Selic at 15%, one of the highest real rates in the world, and has now started cutting with a cautious 25-basis-point move. EWZ is up roughly 11% year to date ... EWZ Could Be 2026’s Sleeper Trade, If Brazil’s Rate Cuts Don’t Get Derailed

The gargantuan funding requirements of developing artificial intelligence has already set records for the funding rounds in private markets. Now the list of largest-ever equity issues on the stock market is set to be rewritten too. The largest component of Alphabet’s proposed $80 billion equity issue—$40 billion, to be sold into the market—will be roughly on par with the size of Saudi oil giant Aramco’s 2019 initial public offering, adjusted for inflation.

Petrobras will cut its road diesel price by R$0.3515 per liter from June 1 under a federal subsidy designed to offset higher fuel taxes and stabilize supply.