Brent futures climbed towards $88 before settling around $85.50. Money managers increased their long positions in Brent for the third consecutive week, indicating bullish sentimentEuropean M1 refinery margins softened in the week but remained profitable at $6.40/bbl. Products saw weakness across the barrel but the upcoming hurricane season and potential disruption to US infrastructure raise questions about short-term price movements.Dreadful US data, including a contraction in manufacturing and services PMI, raises recession fears. The upcoming Fed rate cuts, if implemented in September, may have little impact until 2025.The team also discusses Hurricane Beryl's impact on US energy infrastructure and challenges facing the biofuels industry with stalling growth and collapsing profitability.If you would like to connect with any of our hosts on LinkedIn, please click on the hyperlinks below:Greg Newman:  https://www.linkedin.com/in/oilderivatives/James Brodie:  https://www.linkedin.com/in/jamesbrodiecmt/Martha Dowding:  https://www.linkedin.com/in/martha-dowding-ab84801a6/Vincent Wu:  https://www.linkedin.com/in/vincent-wu-099816125/Chapters for this episode are: 0.42 - Brent Futures Flat Price4.14 - Macro Economic News7.35 - Refinery Margin change14.45 - One to watch28.29 - Googling Oil35.21 - Trade Idea39.41 - Poll 

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