Daily brief
The Gulf region on July 3, 2026, saw oil prices stabilize with little change ahead of a long US weekend, as peace efforts continued and Hormuz flows returned, with oil set for a fourth straight weekly loss. Japan's top oil refiner is eyeing a post-Hormuz future, while the UAE rewrote its offshore oil pricing to capture Asian markets. Gulf oil exports jumped in June on record UAE flows, and ADNOC Distribution neared a $1 billion Shell fuel station deal in South Africa.
India denied directly exporting fuel to Russia but admitted traders may be doing so, as soaring imports pushed India's crude stocks to a near one-year high.
AirAsia is poised for a comeback as lower oil prices support expansion plans, according to CEO Fernandes.
by WorldBrief & Maksim Micheliov | AI-generated summary