Petrobras Preferred Shares Rise 2.3% on Higher Oil Prices

By Jeffrey T. Lewis

SÃO PAULO--Petróleo Brasileiro's preferred shares rose 2.3% after world oil prices jumped higher following the violent attacks on Israel by Hamas. Other Brazilian oil companies' shares also rose.

Shares of Petrobras, as the state-controlled oil company is known, reached 34.29 reais, the equivalent of $6.64. 3R Petroleum Óleo e Gás's shares rose 3.8% to BRL29.53, Petroreconcavo's shares advanced 5.0% to BRL20.27 and Prio's shares climbed 3.8% to BRL46.23.

The price of a barrel of Brent crude oil rose more than 3% following the Hamas attacks, and Israel's response, as investors sought a save haven amid the renewed violence in the Middle East.

Write to Jeffrey T. Lewis at [e-mail]

(END) Dow Jones Newswires

10-09-23 0945ET