Argentina's YPF said it will begin exporting 180,000 bpd of oil starting in January.

Oil eased after a five-day rally, with WTI sliding below $82/bbl and Brent briefly dipping under $87 after a cumulative five-day gain of about 11%. Traders are waiting for signs of progress on reopening the Strait of Hormuz; there has been little movement and Trump said the US has "complete control" of the waterway. The IEA said that with the US‑Iran war continuing the global oil market faces roughly a 1.8 mln bpd supply gap this quarter—more than double its prior estimate—and warned 2026 could see the largest shortfall in five years. The American Automobile Association said US gasoline and diesel prices are at their highest for this time of year.

欧佩克月报显示，7月全球原油运价市场因贸易流中断而剧烈波动。尽管VLCC（超大型油轮）即期运费环比回落18%，但同比仍暴涨432%，处于历史高位。其中，中东至东亚航线运费同比飙升731%。相比之下，苏伊士型和阿芙拉型油轮运费环比走强，分别上涨28%和44%，地中海航线阿芙拉型油轮运费更环比跳涨61%。欧佩克指出，尽管运价高企，但受炼油利润强劲驱动，全球炼厂开工率仍超78%。