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Here’s Why Petrobras (PBR) Stock Dropped Today

NEW YORK (TheStreet) -- Petrobras (PBR) stock closed lower by 4.65% to $6.15 Monday after the Brazilian currency, the real, weakened after reports suggested the country's planning minister was seeking to obstruct a corruption investigation surrounding the state-owned oil and gas company.

Planning Minister Romero Juca wanted to reduce the investigation, according to taped conversation released by a local newspaper, Reuters reports. Juca said he will not resign and that he supports the...


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