Oil prices dropped 1% on Thursday due to reports of a potential OPEC+ production increase in July, raising concerns about oversupply. This, combined with rising US inventories and demand dips, pressured both Brent and WTI crude.

• OPEC+ discusses a 411,000 bpd output boost for July.
• US crude inventories unexpectedly increased last week.
• Rising US Treasury yields signal potentially lower demand.