Crude oil prices dropped to approximately USD 75.6/barrel, marking its lowest since early June due to demand worries from China, where total fuel oil imports fell by 11% in H1 2024. Meanwhile, geopolitical tensions in the Middle East have slightly eased with reports that Hezbollah is relocating precision-guided missiles without seeking escalation with Israel. Concurrently, the US is advocating for restraint from Israel regarding strikes on Lebanese civilian infrastructure.