WS #11323
OPEC+ June production surged 2.34 million bpd to 18.75 million bpd as Gulf states restored Hormuz shipments; Brent briefly dipped below $70 for the first time since February; Citigroup forecasts Brent falling to $60/barrel by year-end; UBS cuts 2026-27 crude forecasts to average $84. Trump's acting DNI Bill Pulte has fired over 30 intelligence officials, raising national security concerns. A source close to Iran's chief negotiator says Tehran is actively weighing a preemptive strike against Israel with hundreds of missiles and drones prepared; intelligence suggests Netanyahu may seek new conflict ahead of October elections.
Oil supply glut deepens as OPEC+ output surges and Brent dips below $70
OPEC+ June production surged 2.34 million bpd to 18.75 million bpd as Gulf states restored Hormuz shipments; Brent briefly dipped below $70 for the first time since February; Citigroup forecasts Brent falling to $60/barrel by year-end; UBS cuts 2026-27 crude forecasts to average $84.
Trump's acting DNI Bill Pulte has fired over 30 intelligence officials, raising national security concerns.
A source close to Iran's chief negotiator says Tehran is actively weighing a preemptive strike against Israel with hundreds of missiles and drones prepared; intelligence suggests Netanyahu may seek new conflict ahead of October elections.