Oil is heading for the first monthly decline since November as OPEC+ ministers prepare to gather to discuss the group’s supply policy. West Texas Intermediate futures traded near $110 a barrel after closing almost 2% lower on Wednesday. OPEC+ is expected to rubber-stamp an increase in supply for August, but focus is rapidly turning to how much the group’s members with spare production capacity will pump once the current agreement ends. Futures fluctuated intraday after Russia said it withdrew some Black Sea troops from Ukraine’s Snake Island. The oil market was roiled by two conflicting drivers in June. On the one hand escalating fears over an economic slowdown as central banks aggressively raise interest rates has weighed on headline prices. Still, physical barrels are fetching enormous premiums as tight crude markets wrestle with outages from Libya to Ecuador . US gasoline demand is showing signs of softening just three […]