The Ibovespa fell about 1% to trade below 185,500 on Monday amid a rebound in the oil rally and persistent political uncertainty. Oil prices rose after Saudi Arabia shut down a crucial pipeline that bypasses the Strait of Hormuz. Renewed energy-driven inflationary pressures ahead of interest-rate decisions by the BCB and the Fed weighed on credit-sensitive stocks. Financials were mostly lower, with Banco do Brasil down more than 1%, while Itau, Bradesco, B3 and Caixa shed about 2% each. Utilities also moved lower, with Axia losing 2% and Sabesp falling 2.5%. Political uncertainty remained elevated amid the ongoing Supreme Court crisis, while a new Datafolha poll showed President Lula maintaining a numerical lead over Senator Flavio Bolsonaro in a potential October runoff. Vale fell near 2% as ion ore prices in China closed lower. Petobras (+1%) was the only positive highlight.