Oil drops below pre-war prices as Saudi supplies improve
“A wave of oil is about to enter the market,” said Natasha Kanaeva, head of commodity research at JPMorgan Chase & Co. (Elke Scolliers/Getty Images via Bloomberg) July 2, 2026 10:36 am, EDT key takeaways: Oil fell below pre-war levels after Saudi Arabia resumed crude exports from its Ras Tanura terminal at normal rates. UAE