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MNI Commodity Weekly - Russian Cuts Supporting Crude but September Refinery Maintenance Could Boost Exports

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Russian Cuts Supporting Crude but September Refinery Maintenance Could Boost Exports - Russian crude exports have finally slowed in July, giving the market confidence around its cut commitments as part of OPEC+ but September domestic refinery maintenance could see flows hit the water again later in the year.

Oil Markets - The crude rally due to tighter supplies and potential China support pauses as the US Fed meeting brings weak economic growth back into focus. Oil product cracks ease back from recent highs which were driven by refinery outages and low inventories.

Gas Markets - TTF sees weekly gain on Russian and LNG supply risks amid the ongoing heat in southern Europe to offset high storage levels and low industrial demand. US nat gas balanced between strong cooling demand and ample supplies.

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MNI Commodity Weekly - Russian Cuts Supporting Crude but September Refinery Maintenance Could Boost Exports.pdf

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