Russian oil product exports hit decade low in July amid Ukraine strikes - S&P Global

Russian oil product exports hit decade low in July amid Ukraine strikes - S&P Global

Source: S&P Global

DW NOTE

Russian oil product exports dropped to a decade low in July as Ukrainian strikes degraded refining capacity — yet WTI fell 11.63% this week to $74.64 despite both that supply loss and the Strait of Hormuz carrying 2 ships instead of the usual 73 per day. The market is pricing in demand destruction faster than it can count supply shocks.

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