TRADERS CITE HOPES FOR BROADER IRAN-GCC FRAMEWORK OVER ACTUAL SUPPLY IMPROVEMENT, WITH HORMUZ TRAFFIC STILL MUTED, TREND FUNDS CUTTING BULLI

TRADERS CITE HOPES FOR BROADER IRAN-GCC FRAMEWORK OVER ACTUAL SUPPLY IMPROVEMENT, WITH HORMUZ TRAFFIC STILL MUTED, TREND FUNDS CUTTING BULLISH BRENT POSITIONS TO 62% FROM 73%, AND OPEC+ EXPECTED TO PAUSE QUOTA HIKES AFTER SEPTEMBER AS MACQUARIE WARNS OF A 2 MLN BBL/DAY GLUT BY Q4