The Zhitong Finance App learned that international oil prices dived sharply in early Asian trading on Monday. Earlier, US President Trump announced the cancellation of a large-scale military attack on Iran and said that negotiations aimed at reopening the Strait of Hormuz will soon resume. Meanwhile, OPEC+ approved a slight increase in production of about 188,000 b/d starting in September, officially completing a round of gradual retracement of voluntary production cuts since last year. Under the dual expectations of geographical easing and supply-side normalization, market panic suddenly cooled down.
Zhitongcaijing · 2d ago
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The Zhitong Finance App learned that international oil prices dived sharply in early Asian trading on Monday. Earlier, US President Trump announced the cancellation of a large-scale military attack on Iran and said that negotiations aimed at reopening the Strait of Hormuz will soon resume. Meanwhile, OPEC+ approved a slight increase in production of about 188,000 b/d starting in September, officially completing a round of gradual retracement of voluntary production cuts since last year. Under the dual expectations of geographical easing and supply-side normalization, market panic suddenly cooled down.
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