I noted earlier the jump in oil prices at the open of the week's futures trade:
Reuters have popped up an week-opener also, citing the rise for futures on the hike in prices from Saudi Arabia over the weekend. ICYMI:
Reuters add:
- Saudi Arabia raised prices sharply for its crude sales in July, an indicator of how tight supply is even after OPEC+ agreed to accelerate its output increases over the next two months.
Yep. I described the hike in output last week as a 'drop in the bucket'.
CL update:
