Oil Fund Falls 1.41% as Petrobras Slips 0.89% | Oil, Oct 27
Key Facts
- The USO fund, which tracks WTI crude futures, fell 1.41% to US$163.88 on Tuesday, October 27.
- Petrobras, Brazil’s state-controlled oil company, lost 0.89% to US$22.30 in New York.
- YPF, Argentina’s state-controlled oil company, fell 1.60% to US$48.45, and Ecopetrol of Colombia eased 0.63% to US$17.29.
- US majors fell too: Exxon Mobil dropped 2.5% and Chevron 1.6%.
- Prediction markets: Polymarket, a prediction market, puts 28.0% on WTI crude touching US$105 at some point in October, as of 27 October 2026, 9:00 pm ET.
Today’s Focus
Oil-linked shares slipped on Tuesday, October 27, after the USO fund, the main WTI crude proxy, fell 1.41% to US$163.88. Wall Street rose overall, with the S&P 500 up 0.60%, so energy lagged the market.
Brazil’s Petrobras closed down 0.89% at US$22.30, holding up better than Argentina’s YPF, which dropped 1.60% to US$48.45. Colombia’s Ecopetrol fell 0.63% to US$17.29.
Oil has been a central worry for inflation. Chile’s central bank said on Tuesday that oil prices have risen by about 25% since September, one reason it warned that inflation risks have increased.
What matters today. Oil shares fell while the wider market rose, so investors are watching the US Federal Reserve decision on Wednesday for the next signal on energy and inflation.
01 The session in one read
Latin America’s listed oil producers closed lower on Tuesday, October 27, tracking a 1.41% fall in the main WTI-tracking fund to US$163.88. Exxon Mobil fell 2.5% and Chevron 1.6% in the United States.
Petrobras slipped 0.89% to US$22.30, while YPF fell 1.60% to US$48.45 and Ecopetrol eased 0.63% to US$17.29. The moves were orderly, not panicked.
Tuesday’s 1.41% slide in the USO fund shows crude giving back some ground, while equities overall rose. The pattern is one of profit-taking in energy rather than a broad risk-off mood.
02 The board
The headline proxy for WTI crude, the USO fund, ended Tuesday at US$163.88, a drop of 1.41% on the day. All four Latin American names in our table finished lower.
YPF was the weakest of the four regional proxies, down 1.60% to US$48.45. Petrobras at US$22.30 showed relative resilience.
| Asset | Level | Change |
|---|---|---|
| WTI crude (USO) | US$163.88 | -1.41% |
| Petrobras | US$22.30 | -0.89% |
| Ecopetrol | US$17.29 | -0.63% |
| YPF | US$48.45 | -1.60% |
Source: RT close, 2026-10-27. Where a commodity has no spot feed, an exchange-traded tracker or leading producer is shown as a labelled proxy.
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Latin America — Cross-Market Board
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 175,710.05 | -0.51% | +19.56% | 176,608.23 | 178,526 | 175,157 | — |
| IPSA | 10,766.85 | +1.81% | — | 10,575.69 | 10,722 | 10,633 | — |
| IPC MEX | 69,734.34 | +0.38% | +12.74% | 69,470.99 | 70,008 | 69,383 | 49,372,306 |
| MERVAL | 2,848,945 | — | +12.65% | 2,859,051 | — | — | — |
| COLCAP | 2,506.51 | +0.06% | — | — | — | — | — |
| USD/BRL | 5.34 | -1.32% | -0.84% | 5.42 | 5.42 | 5.30 | — |
| EUR/BRL | 5.95 | +7.53% | -4.87% | 5.54 | 6.04 | 5.92 | — |
| USD/MXN | 18.69 | +0.62% | +1.45% | 18.57 | 18.69 | 18.54 | — |
| USD/CLP | 983.47 | -0.57% | +5.64% | 989.13 | 991.87 | 979.07 | — |
| USD/COP | 3,149 | +3.06% | -18.02% | 3,056 | 3,173 | 3,111 | — |
| USD/PEN | 3.45 | +0.17% | +3.85% | 3.44 | 3.45 | 3.44 | — |
| USD/ARS | 1,537 | -0.28% | +3.77% | 1,541 | 1,541 | 1,537 | — |
| USD/UYU | 40.21 | +3.57% | +2.29% | 38.83 | 40.21 | 40.08 | — |
| USD/PYG | 5,803 | +3.78% | -16.54% | 5,592 | 5,803 | 5,735 | — |
| USD/BOB | 11.97 | +4.93% | +77.92% | 11.41 | 11.97 | 11.82 | — |
| USD/DOP | 60.54 | +1.83% | -4.34% | 59.45 | 61.14 | 59.85 | — |
| USD/CRC | 451.24 | +2.13% | -7.80% | 441.83 | 451.40 | 450.04 | — |
| USD/GTQ | 7.64 | +3.23% | +2.18% | 7.40 | 7.64 | 7.64 | — |
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03 What moved it
Crude eased while technology shares led Wall Street higher: the Nasdaq rose 1.18% and the S&P 500 gained 0.60%, while US oil majors fell.
Chile’s central bank said inflation risks have increased because of a rise of about 25% in oil prices since September. That illustrates why oil matters well beyond energy stocks.
04 The Latin American read
For Brazil, a softer WTI proxy matters through Petrobras’s export revenue and the politics of fuel prices. For Argentina, YPF’s 1.60% drop shows how sensitive its shares are to global crude moves.
Mexico’s state oil company Pemex is also a state-driven story, where lower prices strain public finances.
05 The names to watch
Petrobras remains the bellwether for Latin American oil equities, and its 0.89% dip to US$22.30 was shallower than the 1.41% slide in the WTI proxy. YPF is the higher-beta play and moved by more.
Ecopetrol’s 0.63% decline to US$17.29 shows its link to Colombian policy as well as to oil. Across the group, none decoupled from the WTI drift.
06 The outlook
The near-term question is whether the US Federal Reserve’s decision on Wednesday changes expectations for demand and the dollar, which is the currency oil is priced in.
What Prediction Markets Say
On Polymarket, a prediction market, traders put the chance that WTI crude oil touches US$105 at some point in October at 28.0%. They see a 21.5% chance that it falls to US$95. About US$4.9 million has been traded on this market, as of 27 October 2026, 9:00 pm ET.
Prices on prediction markets are bets, not polls or forecasts by officials.
Why we show this: prediction markets turn real-money bets into a live probability that moves within minutes of the news, which is why investors, campaigns and newsrooms in the United States now follow them closely. We show them next to polls and official results, never instead of them.
07 What to watch
- US Federal Reserve decision: The Fed announces its rate decision on Wednesday, which can move the dollar and crude.
- Oil prices and inflation: Chile’s central bank pointed to a 25% rise in oil since September as a source of inflation risk.
- Weekly US inventory data: A surprise build or draw would move the USO fund.
- Energy versus technology: Whether energy shares keep lagging the Nasdaq.
Frequently Asked Questions
Why did oil-linked shares fall on Tuesday?
The USO fund dropped 1.41% to US$163.88 while the Nasdaq rose 1.18%, and energy shares lagged the market.
Which Latin American producer fell the most?
Argentina’s YPF fell 1.60% to US$48.45, the steepest decline among the four regional names tracked.
Why does oil matter for inflation?
When oil prices rise, fuel and transport costs rise too. Chile’s central bank said on Tuesday that a 25% rise in oil since September has raised inflation risks.
Is Petrobras more defensive than YPF?
Petrobras fell 0.89% while YPF dropped 1.60%, which points to lower beta in the Brazilian major.
Market data: RT
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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