WS #11490
Russia launches large-scale missile/drone attack on Kyiv; Zelenskyy warns of escalation ahead of NATO summit; Ukrainian drones hit St Petersburg oil terminal; Trump-Putin phone call offers to end war. OPEC+ confirms 188,000 bpd production increase for August, oil prices remain near four-month lows as Hormuz shipping recovers, reinforcing bearish oil narrative. Iran announces service fees for Strait of Hormuz transit, with special consideration for China and friendly nations, potentially impacting oil shipping costs.
Ukraine-Russia conflict escalation and peace talks
Russia launches large-scale missile/drone attack on Kyiv; Zelenskyy warns of escalation ahead of NATO summit; Ukrainian drones hit St Petersburg oil terminal; Trump-Putin phone call offers to end war.
OPEC+ confirms 188,000 bpd production increase for August, oil prices remain near four-month lows as Hormuz shipping recovers, reinforcing bearish oil narrative.
Iran announces service fees for Strait of Hormuz transit, with special consideration for China and friendly nations, potentially impacting oil shipping costs.