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OPEC+ plans a 188,000 bpd oil output hike amid Middle East tensions; WTI nears $80 support level.

Market News
28 Jul 2026
FXEmpire
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Bearish
pluang ai news

OPEC+ is expected to approve a 188,000 barrels per day production increase in September despite ongoing supply disruptions in the Middle East, particularly through the Strait of Hormuz where exports remain well below normal. This geopolitical risk keeps oil prices under pressure. WTI crude oil is trading near a critical support level of $80.46, while Brent crude faces bearish trends below key moving averages. Natural gas prices also show bearish momentum but inventories remain above average, supporting supply stability. The upcoming OPEC+ meeting and Middle East tensions will be key factors influencing oil market dynamics.

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Alstom and partners secure financing for Israel's Haifa-Nazareth light rail project worth €2 billion.

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Ondo Finance launches Ondo Network for faster, private trading with Ondo Perps as first app.

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