Commodities
US-Iran Deal Hopes Weigh on Crude Oil Futures as Heatwave Hits Oil Flows
Crude oil futures continued to decline on hopes of an imminent US-Iran deal, while LSGO cracks rebounded in response.
The heatwave that has been affecting oil flows across Western Europe appears to be intensifying, with a fire breaking out at the Bashneft-UNPZ oil refinery in Russia's Ufa following an apparent Ukrainian drone attack.
US total gasoline inventories fell by the most in four weeks last week, reaching their lowest level in over eight months.