The Ibovespa rose 1% to a record 194,000, lifted by gains across energy, utilities, and major banks. Oil prices surged amid Strait of Hormuz uncertainty, boosting Petrobras and PRIO, both up over 3%, while Sabesp gained 3% on its 31.6% investment hike this year. Major banks also contributed to the rally as investors expect the US-Iran conflict to not escalate much further as it was previously believed, easing stagflation fears. Ita