WS #11471
OPEC+ confirms 188,000 bpd production increase for August, but Strait of Hormuz recovery is fragile with mines and U-turns; Iran's Khamenei funeral pauses US-Iran talks, keeping oil risk premium elevated. Russia claims control over Kostiantynivka, Ukraine denies; Russia accuses Ukraine of rejecting local ceasefire for body handover. Ukrainian drones hit an oil terminal near St. Petersburg, escalating the conflict and adding a risk premium to oil prices.
OPEC+ Production Increase & Oil Market
OPEC+ confirms 188,000 bpd production increase for August, but Strait of Hormuz recovery is fragile with mines and U-turns; Iran's Khamenei funeral pauses US-Iran talks, keeping oil risk premium elevated.
Russia claims control over Kostiantynivka, Ukraine denies; Russia accuses Ukraine of rejecting local ceasefire for body handover.
Ukrainian drones hit an oil terminal near St. Petersburg, escalating the conflict and adding a risk premium to oil prices.