Brazilian Assets Under Pressure as Oil Rally Stirs Inflation Fears; Poll Shows Bolsonaro Ahead

Rising oil prices are amplifying inflation concerns ahead of central bank decisions in Brazil and the US, pressuring Brazilian risk assets. A new Quaest poll showing Senator Flávio Bolsonaro ahead of President Lula for the first time in the campaign partially offset the selloff, suggesting markets are weighing electoral uncertainty. The net effect is a contained but risk-off tone in Brazilian FX and equities.