HeadphonesListen to articleA Sierra Leone-flagged oil tanker sails through Istanbul. Tankers off Turkey's Black Sea coast have faced drone attacks. ReutersA Sierra Leone-flagged oil tanker sails through Istanbul. Tankers off Turkey's Black Sea coast have faced drone attacks. ReutersSaudi Aramco set to trim July prices to Asia as regional demand weakensHeadphonesBookmark
Brent and WTI are heading for a second weekly drop, with Brent down over 12 per cent across 30 days amid ceasefire uncertainty.
A fragile US-Iran truce and draft plan to reopen the Strait of Hormuz leave 42 ships stranded, heightening supply-risk sentiment.
Saudi Aramco is expected to cut July Asian official selling prices, reflecting weaker Dubai quotes and thin refining margins.
Chinese purchases from the kingdom are sliding to about 600,000 bpd by end-June from 1.6 million bpd in February, with refinery runs weakening.
