• Marex flagged sharp oil volatility in July as US-Iran tensions rose; ICE Brent settled at USD 71.57 on July 1, briefly topped USD 100 on July 23.
• Houthi embargo on Saudi shipments via Bab al-Mandab forced longer routes, adding up to 25 days, lifting freight costs, complicating crude export logistics.
• US SPR fell to a 43-year low; inventories dropped 3.8 million barrels to 307.65 million as releases, exports, 97% refinery runs supported supply.
• PJM faced reform pressure; FERC signaled possible intervention by end-September as capacity auction cleared with a 6.8 GW shortfall.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Marex Group Ltd. published the original content used to generate this news brief on August 05, 2026, and is solely responsible for the information contained therein.