Overview

• Brent traded near $69 and WTI around $66 on Tuesday after a muted U.S. holiday session, with WTI resuming trade following no Monday settlement.
• Reuters estimates Ukrainian drone attacks have shut at least 17% of Russia’s oil‑processing capacity, or about 1.1 million bpd, and tanker data showed port shipments at a four‑week low of 2.72 million bpd.
• President Volodymyr Zelenskiy signaled plans for new strikes inside Russia, sustaining concerns over the resilience of Russian energy infrastructure.
• U.S. tariffs on India coincided with wider Urals discounts of roughly $3–$4 per barrel for late‑September and October cargoes, and Indian refiners continue significant purchases.
• Investors are focused on U.S. labor data this week and the OPEC+ gathering after EIA reported a U.S. production record of 13.58 million bpd in June.