The Ibovespa edged 0.2% lower to close at 172,180 on Monday as oil prices jumped after prospects for an agreement to reopen the Strait of Hormuz weakened. US President Donald Trump criticized Iran's demands for war compensation, while Tehran said Washington must lift its blockade before agreeing to fully reopen the waterway. Higher energy prices reignited inflation concerns, weighing on banks and the broader index. Itau shed 0.8% and Bradesco lost 0.7%. Axia dropped 2.3% despite brokerages highlighting significant dividend potential and raising their price targets. Petrobras gained 3.3% on higher oil prices, while Vale added 1.3% despite lower iron ore prices. Embraer climbed 2.3% following a better-than-expected 2Q26 earnings report. Itausa shed 0.7% ahead of its results, due after the close, while Caixa Seguridade (-2%), Natura (-2.4%), and JBS (-1.7%) are also scheduled to report.