Update Opec+ : Brent crude futures rose toward $117 per barrel on Thursday, as OPEC+ agreed to raise output by a larger-than-expected 648,000bps in both July and August but not enough to compensate for the potential loss of more than one million barrels per day from Russia. Earlier in the session prices had fallen to as low as $112.6 after reports said discussions were held about an immediate increase in output from Saudi Arabia and the UAE and that US President Biden will visit the Kingdom, to pressure a production boost.

