Oil news and market movers: Another discount from Aramco
- Saudi Aramco is cutting Oil prices for July for the Asian markets. A softer demand outlook in the region is the main driver for the cut, according to Bloomberg.
- Oil prices might decline further for this week, according to Polymerupdate.com, with the demand-supply outlook from OPEC, EIA and IEA as main drivers together with the US Federal Reserve rate decision.
- The outlook for Oil remains bullish, according to Goldman Sachs’ head Commodity Strategist Daan Struyven. Struyven sees Brent hitting $86 per barrel by the third quarter over solid summer demand, Bloomberg reports.
- Iraq is set to reach a final deal with Kurdistan to restart Oil exports.
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