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OIL MARKET IN CHAOS: OPEC+ OUTPUT POLICIES UNDER SCRUTINY!
Hold onto your hard hats, folks! The oil market is teetering on the edge as the mighty OPEC+ faces mounting pressure regarding its July output. Whispers are swirling that the oil cartel is eyeing ANOTHER massive supply surge, just like the jaw-dropping increases of May and June! This isn’t just a shift in policy; it’s a full-blown declaration of war on prices, with market share taking center stage!
Our insiders project a staggering supply boost of **411,000 barrels per day** for July, which means our price forecasts are staying steady for now — predictably hovering around **$59 per barrel** in the fourth quarter! But wait, there’s more! The front-month ICE Brent timespread is feeling the heat, plummeting from a **$0.74 backwardation** to a mere **$0.50**. Buckle up, it’s gonna be a bumpy ride!
Meanwhile, in a twist straight out of an action flick, G7 finance ministers are threatening to unleash even harsher sanctions on Russia if they don’t get their act together on a peace deal with Ukraine! And guess what? The EU is tossing around the idea of CRANKING DOWN the G7 price cap for Russian oil from **$60 to just $50** per barrel! With Russian Urals trading at around **$55**, it’s a nail-biting tug-of-war for western shipping services!
Meanwhile, US prices took a nosedive yesterday! The NYMEX Henry Hub settled a staggering **3.4% lower** after the Energy Information Administration revealed that US natural gas storage skyrocketed by **120 billion cubic feet** — WAY above expectations! Total gas storage now hits **2.375 trillion cubic feet**, a whopping **3.9% above** the 5-year average! The drama continues!
CORN CRISIS: SURPLUSES ON THE RISE!
Switching gears to agriculture, the International Grains Council just dropped a bombshell! They’ve ramped up global production forecasts for 2025/26 while dimming down demand expectations. Global ending stocks are climbing, jumping from **281 million tons to 284 million tons** — talk about a corn surplus!
In an eyebrow-raising move, they kept production estimates unchanged but slightly reduced demand forecasts, nudging ending stock estimates up from **260 million tons to 262 million tons**! And if that wasn’t enough, global ending stock estimates for another key grain plummeted from **83 million tons to 81 million tons**, hinting at stronger demand ahead. Stay alert, this agricultural rollercoaster is far from over!
**Disclaimer:** *This message is purely for your information. It’s not your financial guru, just some facts thrown out there. No investment recommendations here! Proceed with caution!*
