$EC

WTI crude settled near $91.01, Brent at $95.63 on US-Iran tensions. USO ETF rose 0.67% to $142.09. Petrobras fell 1.68% to $20.51, YPF dropped 2.78% to $52.41 on regional oil field concerns.

Oil prices rose slightly on Wednesday, September 2, 2026, as investors weighed Gulf tensions against steady OPEC+ output. The United States Oil Fund (USO) settled at US$141.15, up 0.11%. Petrobras ADRs jumped 2.61% to US$20.86, while YPF climbed 2.76% to US$53.91. Ecopetrol lagged with a 0.34% rise to US$17.51. US crude inventories fell 4.5 million barrels, tightening the market. OPEC+ is set to meet on Sunday.

Colombia's COLCAP index rose 1.86% to 2,470.26 on September 1, driven by Ecopetrol's management reshuffle, which investors saw as improving governance. The peso weakened 0.22% to 3,209 per USD. Central bank chief Villar warned of a 7.2% fiscal deficit in 2027, adding caution.

Oil prices surged 5.46% to $141.00 after attacks near the Strait of Hormuz. Petrobras rose 5.06% to $20.33, Ecopetrol gained 4.68% to $17.45, and YPF added 1.71% to $52.46. Petrobras reported record production, boosting its appeal.

Ecopetrol's stock rose 5.04% as it announced an extraordinary shareholders' meeting on September 15, 2026, to enhance corporate governance. The company, Colombia's largest, produces over 60% of the country's hydrocarbons. Board candidate nominations include César Eduardo Loza Arenas, Ricardo Rodríguez Yee, and Luis Felipe Henao Cardona. Executive changes were also announced, including new leadership in innovation and energy transition.

Ecopetrol S.A. announced senior management changes. Sergio Andrés Moreno Acevedo stepped down as Corporate Vice President of Science, Technology and Innovation, and Diana Marcela Acero Rojas will take over. Henryk Manuel Porras Villamil was appointed Acting Executive Vice President of Energy Transition, replacing Ernesto Alfonso Gómez Cabarcas. Ecopetrol is a major integrated energy company in Colombia and the Americas, with significant operations in hydrocarbons, energy transmission, and infras

Brent crude rose 2.12% to $89.70, benefiting Petrobras (PBR) and Ecopetrol (EC). Brazil's markets gained, while Mexico, Colombia, and Argentina slipped. Brazil's IGP-M inflation and debt data are due, impacting rate expectations. US markets also rose, with the S&P 500 up 0.72%.

Ecopetrol (BVC: ECOPETROL; NYSE: EC) announced a second call for bondholder meetings to discuss a proposed merger with Parque Solar Portón del Sol. The meetings, scheduled for September 4, 2026, aim to achieve the required quorums for the merger, which was approved by Ecopetrol's shareholders in March 2026.

Ecopetrol (NYSE: EC) acquired Brava Energia for $1.2B, at $8.40/barrel for 1P reserves and $6.30/barrel for 2P reserves. The deal is expected to boost Ecopetrol's 2026 revenue by 7% and EBITDA by 8%, with full impact seen in Q4. Brava's operations will be integrated starting September 2026, and Ecopetrol plans to maintain its debt-to-EBITDA ratio below 2.5x.

Parex Resources (TSE:PXT) aims to reach 90,000 barrels per day by Q4, driven by the Frontera acquisition and Ecopetrol projects. The company expects to generate synergies and reallocate capital. It reported Q2 production of 54,000 bpd and plans to maintain a 6% dividend yield while reducing debt. Parex also targets a dual listing in Colombia by year-end.