U.S. Energy Secretary Wright, in Caracas Tuesday, said agreements to be signed there on Wednesday between U.S. and other oil companies will drive Venezuelan crude output to more than double in the coming years. Venezuelan production peaked at just over 3.0 mln bpd in the late 1990s and has since fallen to roughly 1.1–1.2 mln bpd. Wright said the investment tied to the deals would substantially increase volumes available and exert downward pressure on oil prices. He added that refining capacity i

Global flows: North America saw net inflows (longs added, shorts covered); EMEA and APAC recorded small net outflows. US four-week holdings turned positive for the first time, sitting at the 37th percentile since 2015; Europe, Japan, China and Hong Kong remain overall neutral. Historically the S&P 500 typically rallies one week after the Jackson Hole central bank symposium but shows mean reversion in weeks three to four, implying risk of a short-lived rebound followed by divergent, slightly weaker performance over the next few weeks to one month. Buy-side in the US is concentrated in tech and consumer, with software outperforming semiconductors. Over last week’s five trading days, hedge funds increased short positions in tech and healthcare by ~3%. Hedge funds sold US healthcare and bought European healthcare; historically the two-region spread has an 86% chance of at least partial convergence within two months. (Source: JP Morgan)

据伊朗媒体：霍尔木兹甘省阿萨卢耶和伦格港传出新的爆炸声。