Petrobras sells 20 million liters of diesel at auction in southern Brazil, sources say

Core Insights - Petrobras, the Brazilian state-run oil firm, sold 20 million liters of diesel at an auction in Rio Grande do Sul, pricing it at up to 1.78 reais ($0.3450) per liter above current local distributor prices [1][1][1] - The increase in diesel prices is attributed to the U.S.-Israeli attacks on Iran, posing a threat to Brazil's agricultural sector, particularly affecting soybean harvesting and corn planting [1][1][1] - Despite the rise in diesel prices, Petrobras has not altered its pricing strategy, although domestic prices have increased due to imports and local refineries aligning with global oil prices [1][1][1] - The auction was initiated in response to reports of a diesel shortage in Rio Grande do Sul, aimed at stabilizing market conditions [1][1][1]