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Oil News: Crude Oil Futures Hit 4-Month Low as Production Surges - FXEmpire
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Oil News: Crude Oil Futures Hit 4-Month Low as Production Surges FXEmpire
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Oil News: Crude Oil Futures Hit 4-Month Low as Production Surges - FXEmpire
ING THINK
The Commodities Feed: Oil falls further
Per the full note [ING Think], oil's fourth consecutive decline reflects market pricing of a full Strait of Hormuz reopening after the US-Iran agreement, with WTI touching its lowest since March and Brent below $83/bbl. The desk highlights that this supply-risk unwind is reinforced by China's refinery throughput falling 9.1% YoY to a three-year low, while US SPR stocks at 340mn barrels mark a 40-year trough, suggesting potential rebuilding ahead. No consensus data is available from internal coverage, and no upcoming calendar events are flagged, leaving the focus squarely on demand-side metrics and geopolitical follow-through.
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