WS #11326
Gulf oil exports jumped 3M bpd in June on record UAE flows, with Brent crude falling below $70 as the Strait of Hormuz backlog clears. NATO draft declaration includes $80B military aid package for Ukraine for 2026-2027, escalating geopolitical tensions. Ukrainian drone strike on Slavyansky refinery destroyed 9% of Southern Federal District refining capacity, disrupting fuel supplies.
Oil supply surge and price decline
Gulf oil exports jumped 3M bpd in June on record UAE flows, with Brent crude falling below $70 as the Strait of Hormuz backlog clears.
NATO draft declaration includes $80B military aid package for Ukraine for 2026-2027, escalating geopolitical tensions.
Ukrainian drone strike on Slavyansky refinery destroyed 9% of Southern Federal District refining capacity, disrupting fuel supplies.