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Brazil’s Petrobras monitors tension in Ukraine; CEO says war unlikely

RIO DE JANEIRO, BRAZIL - Petrobras (PETR3;PETR4) is monitoring the tension between Russia and Ukraine, which occurs at a bullish moment for the oil market, also driven by strong global demand and insufficient supply, said the state-owned company's CEO, reserve General Joaquim Silva e Luna.

The executive further said he believes a war is unlikely, and that a stabilization of tensions has the potential to cool the market, something the company also takes into account before any changes on oil product prices.

In the year, the rise in global benchmark Brent oil exceeds 20%, and the commodity renewed . . .

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