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macroAug 6, 2026, 6:49 AM

Distillate Exports Tighten Oil Market, Brent Below $80 – ING

ING strategists note that distillate exports are tightening the oil market, with ICE Brent trading below $80/bbl as markets focus on a potential US-Iran deal.

XBRUSD

ING strategists Warren Patterson and Ewa Manthey highlight that distillate exports are tightening the physical oil market.

Oil prices remain under pressure, with ICE Brent trading below $80/bbl. The weakness comes as markets focus on the possibility of a US-Iran deal that could reopen flows through the Strait of Hormuz.

Source: FXStreet Forex News