{"id":73589,"date":"2026-10-25T20:08:17","date_gmt":"2026-10-26T00:08:17","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/lula-secures-fourth-term-in-brazil-oil-prices-retreat-from-six-month-highs\/73589\/"},"modified":"2026-10-25T20:08:17","modified_gmt":"2026-10-26T00:08:17","slug":"lula-secures-fourth-term-in-brazil-oil-prices-retreat-from-six-month-highs","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/lula-secures-fourth-term-in-brazil-oil-prices-retreat-from-six-month-highs\/73589\/","title":{"rendered":"Lula Secures Fourth Term in Brazil; Oil Prices Retreat from Six-Month Highs"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Luiz In\u00e1cio Lula da Silva<\/strong> won Brazil\u2019s presidential runoff with <strong>51% of the vote<\/strong>, defeating <strong>Fl\u00e1vio Bolsonaro (49%)<\/strong> to secure an unprecedented fourth term.<\/li>\n<li><strong>Brent crude<\/strong> fell 0.7% to <strong>$115.87<\/strong> and <strong>WTI<\/strong> slipped 0.9% to <strong>$102.33<\/strong> as markets corrected following a 6% rally to six-month highs last week.<\/li>\n<li>The White House reported a <strong>US-Canada trade deal is &quot;very close,&quot;<\/strong> coinciding with the lifting of <strong>50% tariffs<\/strong> on select Canadian plywood and paper products.<\/li>\n<li>Israeli PM <strong>Benjamin Netanyahu<\/strong> is reportedly pressing President Trump for more public support ahead of a <strong>tight Tuesday election<\/strong> in Israel.<\/li>\n<li><strong>Rep. Dan Crenshaw<\/strong> challenged <strong>Elon Musk<\/strong> over Starlink restrictions in Ukraine, even as satellite speeds reportedly returned to normal for military communications.<\/li>\n<\/ul>\n<h2>Lula Defeats Bolsonaro Movement in Brazil<\/h2>\n<p><strong>Luiz In\u00e1cio Lula da Silva<\/strong> has secured a historic fourth term as President of Brazil, winning a narrow runoff with <strong>51% of the vote<\/strong>. The victory over <strong>Fl\u00e1vio Bolsonaro<\/strong>, who garnered <strong>49%<\/strong>, effectively halts a rightward political shift in Latin America and marks a major comeback for the leftist leader. Lula\u2019s win was heavily bolstered by his traditional stronghold in the <strong>Northeast<\/strong>, overcoming the political movement built by former President Jair Bolsonaro.<\/p>\n<p>The election results come amid a polarized climate where both candidates requested voting extensions due to logistical hurdles. Analysts suggest Lula\u2019s victory will likely shift Brazil\u2019s focus toward <strong>social welfare<\/strong> and <strong>climate change<\/strong> initiatives. However, the narrow margin of victory and potential legal challenges from the Bolsonaro camp indicate a challenging transition period ahead for the region&#39;s largest economy.<\/p>\n<h2>Oil Markets Ease Amid Technical Overbought Conditions<\/h2>\n<p>Global oil benchmarks retreated slightly on Monday after surging more than <strong>6% last week<\/strong> to reach their highest levels in six months. <strong>Brent crude<\/strong> settled lower at <strong>$115.87 a barrel<\/strong>, while <strong>U.S. <a href=\"https:\/\/stockmarketwatch.com\/energy\/crude-oil\" data-internallinksmanager029f6b8e52c=\"12\" title=\"Crude oil\">West Texas Intermediate<\/a> (WTI)<\/strong> slipped to <strong>$102.33<\/strong>. The minor decline is attributed to <em>technical overbought conditions<\/em> and profit-taking following a volatile period driven by Middle East geopolitical risks.<\/p>\n<p>Despite the daily dip, <strong>Brent has risen approximately 90% this year<\/strong> due to war-related supply disruptions and escalating tensions between the U.S. and Iran. Commonwealth Bank of Australia (CBA) analyst Vivek Dhar warned that Brent may need to hit <strong>$150 a barrel<\/strong> to trigger significant demand destruction in emerging Asian economies. Markets remain on edge as regional clashes continue to threaten global inventories and shipping routes through the Strait of Hormuz.<\/p>\n<h2>US-Canada Trade Negotiations Gain Momentum<\/h2>\n<p>White House economic adviser <strong>Kevin Hassett<\/strong> stated that a new trade agreement between the U.S. and Canada is <strong>&quot;very close&quot;<\/strong> as negotiations intensify. Commerce Secretary <strong>Howard Lutnick<\/strong> has been leading the discussions, though officials cautioned that a final deal remains contingent on further Canadian concessions. The progress follows months of trade friction and tit-for-tat tariff measures between the two neighbors.<\/p>\n<p>In a significant move, the U.S. agreed to lift <strong>50% tariffs<\/strong> on specific Canadian goods, including <strong>plywood, bleached paper, cartons,<\/strong> and specialized agricultural machinery. The exemptions were reportedly influenced by lobbying from Maine Senator <strong>Susan Collins<\/strong> to support local rural economies. These adjustments come just days before the <strong>November 3 midterm elections<\/strong>, highlighting the political sensitivity of trade policy in key battleground states.<\/p>\n<h2>Geopolitical Tensions: Israel and Ukraine<\/h2>\n<p>In the Middle East, Israeli Prime Minister <strong>Benjamin Netanyahu<\/strong> is reportedly making a &quot;desperate&quot; push for additional public endorsements from President Trump. With Israel\u2019s election scheduled for Tuesday, Netanyahu is facing a tight race against opposition leader <strong>Gadi Eisenkot<\/strong>. Recent reports indicate Netanyahu has proposed specific language for Trump to use in interviews with Israeli media to bolster his standing.<\/p>\n<p>Meanwhile, in the U.S., Representative <strong>Dan Crenshaw<\/strong> ([TX-02]) publicly challenged <strong>Elon Musk<\/strong> regarding restrictions placed on <strong>Starlink<\/strong> satellite services in Ukraine. While Musk defended the move as a measure to prevent offensive drone strikes, Crenshaw argued that such restrictions hinder Ukraine&#39;s legitimate self-defense. Ukraine\u2019s Defense Ministry has since confirmed that <strong>satellite speeds have returned to normal<\/strong> following the recent disruptions to military communications.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Luiz In\u00e1cio Lula da Silva won Brazil\u2019s presidential runoff with 51% of the vote, defeating Fl\u00e1vio Bolsonaro (49%) 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