News: The reopening of the Strait of Hormuz by Iran led to a 9% crash in Brent crude oil prices (below $90) and a 12% intraday drop in WTI to $83. This impacted Latin American markets, with Petrobras falling ~7% and dragging down the Ibovespa. However, the Brazilian Real strengthened to a new cycle low of R$4.9787. Political tensions are high in Peru, where the vote count is extremely close, with over 5,000 challenged ballots potentially delaying the final result by two weeks. Bolivia is preparing for departmental runoffs tomorrow. Bitcoin surged to $77,140, its strongest level since February, driven by the risk-on sentiment. Gold also hit a new all-time high at $4,879/oz.
AI Analysis: The Hormuz reopening presents a mixed bag for Latin America. Oil-exporting nations face revenue declines, but the overall risk-on sentiment and currency benefits (like Brazil's Real) are positive. Peru and Bolivia remain high-risk due to political instability, requiring careful monitoring.
