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OPEC+ agreed to raise output by 548,000 bpd for August, larger than the prior three monthly hikes of 411,000 bpd. Brent settled up 1.9% at $69.58 and WTI rose 1.4% to $67.93 as demand held above expectations.
Larger OPEC+ supply additions add to the outlook for a surplus, but firm demand kept prices up. Crude moves feed through to diesel costs and vegetable oil biofuel economics.
reuters.comArathy SomasekharJul 7, 2025After 102 past neutral macro events, WTI moved a median -0.1% over 5 sessions (49% higher; middle half -3.3% to +2.5%), and +1.8% over 20.
After 54 past neutral macro events, BRENT moved a median +0.4% over 5 sessions (57% higher; middle half -2.8% to +2.5%), and +0.6% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
