Oil Under Pressure, Gold at Risk: Saudi Surge and ESG Headwinds
Saudi Arabia just committed to a fourth consecutive monthly output increase, and the math is straightforward: 752,000 barrels per day of incremental supply has returned to market since June. WTI at $75.11 looks manageable until you map it against softening demand, a partial Hormuz corridor deal that strips away the geopolitical premium, and a US labor market that added just 57,000 jobs in June. The floor for crude is shale breakeven territory, somewhere in the $55-65 range. Between here and there, the path of least resistance is down.
Key Takeaways OPEC+ authorized a fourth consecutive 188,000 bpd output increase for September 2026, bringing cumulative supply additions to 752,000 bpd since Ju…
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