Oil prices, already moving higher due to renewed demand optimism and rising geopolitical risk, are now being boosted by an category 5 hurricane.
Hurricane season is back, and oil markets are on edge as the earliest category 5 hurricane to form at this time of the year moves toward Jamaica.- As commodity markets started to talk politics following last week’s Biden-Trump debate, analysts seek to gauge the impact of US gasoline prices on voter satisfaction.
The Russian government has waived its ban on gasoline exports for another month until July 31, saying that fuel stockpiles are sufficient despite repeated Ukrainian drone strikes on refineries, bringing some 150,000 b/d of the fuel to the markets. China Creates New Driller for Tight Oil.
Oil Prices Hurricane Beryl Demand Supply WTI Brent
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