Oil returned to the $100 per barrel level, complicating the economic situation in Brazil and around the world. The conflict between the United States and Iran has caused strong oscillation in quotations throughout this year, generating instability in global markets.
The war is taking place in the Middle East, more than ten thousand kilometers from the Brazilian coast, but the impact is felt directly by the Brazilian consumer. The rise in oil affects the price of gasoline and various other products, increasing the cost of living in the country.
Inflation is directly affected by the rise in oil prices, worsening existing economic challenges. The article mentions that subsidies for fossil fuels are justifiable from an economic point of view, but represent a contradiction in the face of the climate crisis.
