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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