Weak INE crude expiry in China
Crude oil prices in Europe and the US continued to climb, to reach 76 $/b for the ICE Brent September contract. On the opposite of…
Strong uncertainty around the timing of a potential return of Iranian oil on the market pushed the OPEC+ group to just confirm what had been decided previously: output will increase further in July, but nothing is planned afterwards. Brent 1st-nearby prices almost touched their highest level of the year, above $71/b, before adjusting slightly downwards. The WTI reached a two-year high.
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