Global oil prices saw significant volatility this week after hopes of a diplomatic breakthrough between the United States and Iran caused Brent crude to tumble 4.73% on Monday, settling at US$83.77 per barrel. The sharp move created an immediate headwind for oil-dependent Brazilian stocks, leading *Petróleo Brasileiro S.A.* (Petrobras, PETR4) shares to trade down 0.85% to R$43.05 today, while the broader Brazil ETF (EWZ) fell 0.63%.