WS #11466
OPEC+ confirms 188,000 bpd output increase for August as Strait of Hormuz shipping recovers, with Brent crude near $72, acting as a counter-signal to oil supply disruption fears. Ukrainian drones struck an oil terminal in St. Petersburg and other targets, escalating tensions and potentially impacting Russian oil exports and global supply. Houthis attacked a cargo vessel 30NM southwest of Al Hudaydah, the first strike on the Bab el-Mandeb Strait since the war began, per UKMTO, introducing new geopolitical risk to shipping lanes.
Strait of Hormuz De-escalation and OPEC+ Output Increase
OPEC+ confirms 188,000 bpd output increase for August as Strait of Hormuz shipping recovers, with Brent crude near $72, acting as a counter-signal to oil supply disruption fears.
Ukrainian drones struck an oil terminal in St. Petersburg and other targets, escalating tensions and potentially impacting Russian oil exports and global supply.
Houthis attacked a cargo vessel 30NM southwest of Al Hudaydah, the first strike on the Bab el-Mandeb Strait since the war began, per UKMTO, introducing new geopolitical risk to shipping lanes.