This week, oil prices rebounded despite rising OPEC+ output, supported by trade optimism and technical buying. HSFO remained relatively strong but faces summer downside risks, while EU gas markets tightened amid reduced LNG flows and the accelerating phase-out of Russian gas.

This week, oil markets remained under pressure with Brent dipping below USD 62, as attention turned to the upcoming OPEC+ meeting amid renewed US sanctions on Iran, falling Chinese LNG demand, and signs of market complacency in gas and carbon pricing.

This week, oil markets showed early signs of stabilisation as financial markets calmed, but downside risks from potential OPEC+ supply increases and weaker US economic data kept Brent trading just below USD 67, while new SECA regulations in the Mediterranean shifted marine fuel dynamics.