Oil prices declined as Hurricane Beryl impacted U.S. refinaries, lowering Brent futures to $85.75. Gaza ceasefire hopes eased supply concerns. Texas faced significant damage; Kazakhstan to compensate for OPEC+ excess. China’s imports fell, India’s fuel consumption rose. Analysts, including Gelber and Ritterbusch, noted de-risking. U.S. and UK elections may influence outcomes.
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