WS #11495
OPEC+ approved a 188,000 bpd output increase for August, the fifth consecutive monthly hike, as Strait of Hormuz shipping recovers, pushing Brent to $71.88 and WTI to $68.58, with analysts warning of a potential glut. Russian missiles and drones struck Kyiv early Monday, killing at least seven people and hitting residential buildings, escalating the Ukraine conflict and potentially reintroducing geopolitical risk premium. Lockheed Martin is leading a $3.5 billion bid to acquire naval defense firm Ultra Maritime, signaling consolidation in the defense sector amid rising global defense spending.
OPEC+ Output Hike & Oil Price Decline
OPEC+ approved a 188,000 bpd output increase for August, the fifth consecutive monthly hike, as Strait of Hormuz shipping recovers, pushing Brent to $71.88 and WTI to $68.58, with analysts warning of a potential glut.
Russian missiles and drones struck Kyiv early Monday, killing at least seven people and hitting residential buildings, escalating the Ukraine conflict and potentially reintroducing geopolitical risk premium.
Lockheed Martin is leading a $3.5 billion bid to acquire naval defense firm Ultra Maritime, signaling consolidation in the defense sector amid rising global defense spending.