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2014-11-07 19:25:00

PETROBRAS LOSING

PETROBRAS LOSING

Petroleo Brasileiro SA (PBR) headed for the longest losing streak in a year as plunging oil prices and currency weakness overshadowed a decision to give the state-run producer some relief from inflation-fighting policies.

Petrobras, as the Rio de Janeiro-based company is known, fell for a fifth day, losing 2.2 percent to 13.75 reais at 11:34 a.m. in Sao Paulo. Brazil's currency extended a decline against the dollar this week to 3.8 percent, the most among major currencies tracked by Bloomberg. Brent headed for a seventh straight weekly drop amid the U.S. shale boom.

With four-year low crude prices dimming Petrobras'…

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Tags: OIL, PETROBRAS, PRICES, BRAZIL, BRENT, OPEC,
Chronicle:
PETROBRAS LOSING
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2019, May, 23, 12:15:00
U.S. SANCTIONS FOR GERMANY
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2019, May, 23, 12:02:00
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