WS #11322
Brent crude falls below $70 for first time since pre-Iran war, OPEC+ June output surges 2.34M bpd to 18.75M bpd as Hormuz shipping normalizes; Citigroup forecasts Brent at $60 by year-end. Iran prepares hundreds of missiles for preemptive strike on Israel, citing Netanyahu's election calculus; ceasefire seen as tactical pause.
Oil Price Collapse & OPEC+ Supply Surge
Brent crude falls below $70 for first time since pre-Iran war, OPEC+ June output surges 2.34M bpd to 18.75M bpd as Hormuz shipping normalizes; Citigroup forecasts Brent at $60 by year-end.
Iran prepares hundreds of missiles for preemptive strike on Israel, citing Netanyahu's election calculus; ceasefire seen as tactical pause.