The Weekly Consensus

The Weekly Consensus

Maeghan Thompson

Story of the Week

Coats Group to Acquire OrthoLite for $770m in Move to Reshape Footwear Components Market

Coats Group Plc has reportedly reached a definitive agreement to acquire U.S.-based footwear insole maker OrthoLite for $770 million, including debt. The acquisition is reportedly designed “to accelerate the London-based thread manufacturer’s ambition to become a leading supplier of materials to the footwear industry.” “The combination of Coats and OrthoLite is fantastic news for both companies and for the footwear industry,” said David Paja, CEO of Coats Group PLC. “It brings together two global leaders in adjacent segments of the footwear components sector with a shared vision for innovation and sustainability and with unparalleled brands and customer relationships. We look forward to working with Glenn Barrett and the OrthoLite team, leveraging our combined strengths to reshape the future of the footwear components industry.”

Apparel & Footwear

Bombas Promotes Jason LaRose to CEO

Bombas promoted Jason LaRose, president and former Under Armour executive, to CEO. Bombas Co-founder David Heath becomes executive chair. LaRose worked at Under Armour from June 2013 to May 2019, holding roles that included president, North America; chief revenue officer, Digital; and SVP Global E-commerce. He went on to become CEO of Equinox Media before joining Bombas as president in July 2024. According to CNBC, Bombas’ sales increased 22 percent year-over-year through April 2025, driven by a 17 percent rise in its core sock category and strength in the newer footwear category. Bombas also makes underwear, bras, and t-shirts. LaRose is responsible for expanding Bombas beyond direct-to-consumer, with only 7 percent of revenues currently coming from wholesale. Accounts include Nordstrom, Scheels, and Dick’s Sporting Goods. Bombas is also expected to explore brick-and-mortar stores.

Shein faces class action lawsuit over marketing texts

Shein is facing a class action lawsuit that claims the fast fashion giant sent marketing text messages to those on the national Do-Not-Call Registry, according to court documents. The complaint alleges Shein sent three text messages to the plaintiff in June 2025, after the claimant registered with the Do-Not-Call Registry in April. The plaintiff didn’t explicitly sign up for the texts.  Attorneys for the plaintiff are seeking a jury trial and claim that the plaintiff suffered an invasion of privacy, intrusion of life, and a private nuisance, and that Shein should have known the plaintiff’s phone number was on the Do-Not-Call Registry. Though Shein has previously faced class action lawsuits, the new complaint is unique in its claim of violating the Telephone Consumer Protection Act. The new complaint was filed July 11 in the U.S. District Court for the Southern District of Indiana, the district in which the plaintiff resides.

Athletic & Sporting Goods

Revelyst expands golf tech portfolio with GolfLogix acquisition

Revelyst, a collective of brands that design and manufacture performance gear and precision technologies, has acquired golf course mapping company GolfLogix from 8AM Golf for an undisclosed price.  Founded in 1999, GolfLogix was the first company to introduce handheld GPS to the golf industry and has continued to innovate, including releasing the first golf GPS app in 2009, a revolutionary Puttbreaks feature in 2018 and now, the first 3D virtual reality offering in a golf GPS app.  The GolfLogix business will be integrated into Revelyst’s Golf Technology platform, adding another innovative brand in its growing portfolio, which includes Foresight Sports, Bushnell Golf and PinSeeker.

Blacktusk Outdoors Acquires Lucky Strike Bait Works

Blacktusk Outdoors, a growing leader in the outdoor gear and angling space, is proud to announce its acquisition of Lucky Strike, one of North America’s most storied fishing lure brands. The move marks a significant step in Blacktusk Outdoors’ mission to elevate heritage craftsmanship and advance design excellence across the fishing and outdoor industries.  Founded in 1929, Lucky Strike has built its reputation on producing durable, trusted tackle and landing nets for generations of anglers.  The acquisition of Lucky Strike Bait Works further strengthens Blacktusk Outdoors’ growing roster of fishing brands, which includes Lunkerhunt, known for its groundbreaking lure designs and pioneering soft plastics and Walleye County, a purpose-built brand, focused on specialized anglers, offering curated bait assortments, regional color patterns, and proven profiles tailored to the demands of North American fisheries.

Cosmetics & Pharmacy

Shiseido Americas to Undertake ‘Wide-Ranging’ Layoffs

Shiseido Americas announced it would undertake a “wide-ranging and significant reduction” to its workforce in an internal memo from interim chief executive Alberto Noé to staff on Wednesday. The Japanese conglomerate owns premium brands such as Nars and Drunk Elephant, and also makes fragrances for fashion houses like Tory Burch and Narciso Rodriguez. Its layoffs follow other beauty giants such as Coty and Estée Lauder Companies, which have both detailed plans to reduce their workforces as the market cools and growth becomes more elusive. “Shiseido Americas finds itself deeply challenged on multiple fronts. Despite our best efforts and hard work, business performance has declined significantly through 2024, and the 2025 outlook remains bleak,” said Noé in the memo. In April, it installed Noé, previously head of its EMEA region, as interim CEO for the Americas in addition to his prior responsibilities, replacing Ron Gee who departed the company.

Walgreens shareholders approve $10B Sycamore acquisition

Walgreens shareholders overwhelmingly approved the previously announced $10 billion acquisition of the company by private equity firm Sycamore Partners, according to a news release. Preliminary results show that about 96% of votes cast by shareholders were in favor of the merger agreement between the publicly held Walgreens and Sycamore. The early results also revealed that about 95% of unaffiliated shareholders voted for the merger. The deal is expected to close during the third or fourth quarter of 2025. Shareholders will receive $11.45 per share in cash and could earn another $3 per share from the future sale of VillageMD businesses, which include Village Medical, Summit Health, and CityMD. The total value of the transaction represents nearly $24 billion, including debt and future payouts, according to the company.

Hindustan Unilever Limited Appoints Priya Nair as CEO and MD

Hindustan Unilever Limited (HUL) has named Priya Nair as its next Chief Executive Officer and Managing Director, effective August 1, 2025. She will succeed Rohit Jawa, who is stepping down after a two-year tenure. Currently serving as President, Beauty & Wellbeing at Unilever, Nair will also join the HUL Board, subject to approvals, and remain a member of the Unilever Leadership Executive. A long-time HUL executive, she joined the company in 1995 and has held senior roles across multiple categories, including Home Care and Beauty & Personal Care. Before her global promotion, she was Executive Director of Beauty & Personal Care at HUL and later served as Global Chief Marketing Officer for Unilever’s Beauty & Wellbeing division. The leadership transition signals Unilever’s continued emphasis on experienced internal talent with deep category knowledge. Nair’s appointment comes as HUL looks to accelerate growth in high-potential segments like beauty and wellbeing—an area she has led globally.

Sally Beauty Acquires Flair Hair & Beauty Supplies

Specialist retailer Sally Beauty has announced the acquisition of Flair Hair & Beauty Supplies as part of its ongoing expansion strategy to strengthen its retail and professional presence in the Republic of Ireland. Flair Hair & Beauty Supplies is renowned among professional hairdressers and beauticians in Ireland for its extensive premium product portfolio and trusted industry expertise. With the acquisition of Flair, Sally Europe will integrate local heritage into its wider portfolio. Olivier Badezet, Senior Vice President and Managing Director of Sally Europe, said: “Flair’s heritage and commitment to professionals is very much our own. By joining forces, we will enhance our presence in the Republic of Ireland and bring even more choice, expertise and convenience to our customers.” With over 250 stores in the UK and Ireland and over 450 stores in Europe, Sally Europe is part of Sally Europe Holdings, which has an expanding international footprint to include Latin America.

Discounters & Department Stores

Target to open 8 new stores this summer amid growth strategy

Furthering its multiyear store expansion strategy, Target is opening eight new stores this summer across California, Connecticut, Florida, New Jersey, New York, and Pennsylvania, according to a company post. The retailer plans to open 20 this year. The new locations will open between July and August 2025, with three of the spaces larger than Target’s chainwide average of 125,000 square feet. Target’s latest store openings are an extension of its effort to open 300 over the next decade. The mass retailer opened 23 stores last year and unveiled a strategic plan to exceed $15 billion in sales growth by 2030. The larger strategic plan includes a $4 billion to $5 billion investment this year in stores, supply chain and technology, along with a merchandise revamp featuring an emphasis on private labels and newness.

Macy’s Prices US$500 Million in Senior Notes Ahead of Planned Debt Redemption

Macy’s, Inc. has announced that its wholly-owned subsidiary, Macy’s Retail Holdings, LLC, has priced a private offering of US$500 million in 7.375% senior notes due August 1, 2033. The offering was priced at par and is expected to close on July 29, 2025, subject to standard closing conditions. The notes will be senior unsecured obligations of Macy’s Retail Holdings and will be unconditionally guaranteed on a senior unsecured basis by Macy’s, Inc. The offering is part of Macy’s broader strategy to refinance and restructure its debt obligations amid a challenging retail environment. By issuing new notes and retiring higher-cost or maturing debt, the company aims to manage its capital structure more efficiently while maintaining financial flexibility.

Target to end price matching policy

Target will no longer price match products for customers from competitors such as Amazon and Walmart starting July 28. The company said it’s found that shoppers “overwhelmingly price match Target and not other retailers,” according to a statement from a spokesperson shared with Retail Dive. “We’re always working to deliver consumers outstanding value and give them confidence to choose Target, with our everyday low prices, affordable and quality-focused owned brands, incredible deals, free-to-join membership program, Target Circle, and more,” the spokesperson said. In its current policy, Target matches pricing for identical qualifying items at Amazon and Walmart. Shoppers can request such price matching at the time of purchase or within 14 days afterward.

Emerging Consumer Companies

Padel Haus Raises $7 million

Padel Haus, the Brooklyn-based padel club operator, has raised $7 million in a Series B funding round to accelerate the company’s expansion. By year’s end, it aims to operate 40 courts and reach 120 courts and more than 20 wholly owned locations by 2027. Founded and led by entrepreneur Santiago Gomez, Padel Haus has expanded from one club in New York City to five locations, including three in New York City and one each in Nashville, TN and Atlanta, GA. The company has plans to open a club in Denver, CO, this year. The raise values the company at $33 million, bringing the total funding to $18 million since its 2022 launch. Backers include institutional investors Bolt Ventures, owned by American investor and sports team owner David Blitzer; Vanquish Equity; Mario Gabelli; and Epic Padel, alongside athletes from the NFL, MLS and NHL. Several existing angel investors and family offices also reinvested in the round.

Hummus brand Little Sesame raises $8.5 million

Little Sesame, a leader in the hummus category, announced the successful closing of its $8.5M Series A financing. The round was led by InvestEco Capital, known for backing mission-driven brands like Vital Farms and Lesser Evil, with participation from Watchfire Ventures, Santatera Capital, Beliade Consumer Partners, and other prominent individual investors in the CPG industry. The funds will be used to significantly expand manufacturing capabilities, product development, and talent acquisition. Little Sesame plans to open a 23,000-square-foot, state-of-the-art manufacturing facility by the end of 2025. Founded in 2016 by Nick Wiseman and Ronen Tenne while cooking on the NYC fine-dining circuit, Little Sesame’s first evolution was as a pop-up in a 500-square-foot basement. This ultimately led to their flagship restaurant in downtown Washington, D.C. in 2018. In June 2021, Little Sesame launched its grocery-ready hummus line in 14 Whole Foods Market locations. Today, Little Sesame is available in close to 3,000 stores nationwide, including Sprouts, Whole Foods Market, Wegmans, Foxtrot, Erewhon, and more.

VC-backed beauty brand Ami Colé is shuttering

Diarrha N’Diaye-Mbaye, one of the first among the small number of Black women to raise more than $1 million in venture capital, announced on Thursday the closure of her award-winning beauty startup Ami Colé. Ami Colé creates makeup for those with darker skin colors, as those consumers often struggle to find makeup that matches their skin tone. It launched in 2021, sold through Sephora, and became a celeb favorite among the likes of singer Kelly Rowland and actress Mindy Kaling. But the 4-year-old company will now officially shutter in September. N’Diaye-Mbaye wrote about her decision to close the company in “The Cut,” saying that “after looking at every option, it became clear that continuing in this current market wasn’t sustainable.” Her company had raised more than $3 million in venture capital, according to PitchBook, with backing from the likes of G9 Ventures, Greycroft, and angel investors Hannah Bronfman and “The Cut” editor-in-chief Lindsay Peoples Wagner.

Roxy Nails has sold a minority stake to Cap Invest and Premius Capital

Roxy Nails has sold a minority stake to Cap Invest and Premius Capital, enabling the brand to accelerate growth, expand internationally and strengthen its capabilities by structuring teams and hiring new talent. Roxy Nails is a French pure-play digital native vertical brand specializing in press-on nails and related products. As a first mover in France, the company offers an extensive selection of affordable press-on nails for hands and feet and has built a robust community on leading social media platforms such as TikTok and Instagram, with tutorial views on TikTok ranging from 0.5 million to 8 million. Incorporated in June 2021, Roxy Nails has demonstrated outstanding profitable growth since its inception. As a pioneer in the beauty and cosmetics segment for press-on nails, the company aims to accelerate its expansion in France and internationally through an omnichannel strategy encompassing digital, retail and wholesale channels.

Food & Beverage

Ben & Jerry new CEO elected amid board dispute

Unilever named Jochanan Senf as the CEO for Ben & Jerry’s in the latest salvo in an ongoing dispute with the top-selling ice cream brand’s board. Senf has worked closely with the Ben & Jerry’s brand for seven years, Unilever said in a statement, giving him firsthand knowledge of the offering’s product, as well as its economic and social impact. The announcement comes as Ben & Jerry’s has been ensnarled in a legal fight with Unilever over the removal of the ice cream’s former CEO, Dave Stever. Ben & Jerry’s claimed its parent company fired Stever for backing the brand’s social mission and not because of his job performance. The Cherry Garcia maker stated in a court filing earlier this year that Unilever has “repeatedly threatened Ben & Jerry’s personnel, including CEO David Stever, should they fail to comply with Unilever’s efforts to silence” its social mission.

Eshbal Functional Food Acquires Majority Stake in Dare to Be Different Foods

Eshbal Functional Food Inc. has announced its second acquisition in July (and third in the last 60 days) with the signing of a binding letter of intent to acquire a majority interest in U.S.-based Dare to Be Different Foods (D2BD). The Vancouver, B.C.-based gluten-free and health-focused foods producer entered into the agreement with D2BD effective July 3, 2025, and it will acquire a 55% interest in the New York-based processor of foods made from broccoli and cauliflower, including crusts, crisps, gnocchi and other items. Additionally, to further emphasize its desire to expand its North American business, Eshbal named Avi Markus its chief commercial officer for North America. Markus brings more than 25 years of experience in CPG and BFY food brands, the release noted.

Ferrero’s Ferrara Candy Co. May Acquire Europe’s CPK Group

Ferrara Candy Co., the U.S. sugar candy business of Ferrero Group, though its European holding company has begun “exclusive discussions” to acquire CPK Group, a French manufacturer and distributor of candies and chocolates, from Eurazeo, a global investment group. Price was not disclosed. The likely deal was announced July 11, one day after Ferrara’s parent Ferrero disclosed it’s buying WK Kellog Co. for $3.1 billion. The planned acquisition would combine CPK’s position in the European confectionary market with Ferrara Candy Co.’s portfolio of sugar confections, such as Nerds, Jelly Belly, SweeTarts and Dori. The deal would “strengthen… Ferrara’s platform for continued growth.” CPK would continue to be operated from France. CPK was created in 2017 following the acquisition of 14 brands from Mondelez and the combination in 2018 with the company Lamy Lutti.

Grocery & Restaurants

Shares in Seven & i plunge 7% after Couche-Tard withdraws takeover bid

Shares of Seven & i plunged Thursday as trading resumed following a brief halt after Canada’s Alimentation Couche-Tard withdrew its $47 billion bid to acquire the Japanese company. Convenience store operator Couche-Tard announced Wednesday that it was pulling its takeover bid for Japan’s Seven & i Holdings, citing a “persistent lack of good faith engagement.” “There has been no sincere or constructive engagement from 7&i that would facilitate the advancement of any proposal, contrary to comments made publicly by 7&i representatives,” the Canadian retailer said in a statement. The operator of 7-Eleven stores expressed disappointment at Couche-Tard’s “unilateral” termination of talks and withdrawal of its bid, and said it disagreed with many of the company’s “inaccurate statements,” according to a Google translation of Seven & i’s statement in Japanese.

Starbucks employees to return to the office four days a week — or take a payout

Starbucks corporate employees will have to return to the office four days a week starting in October, the company announced. For workers who would prefer to leave the company instead of heading back to the office for an additional day, Starbucks is offering a “one-time voluntary exit program with a cash payment,” CEO Brian Niccol said in a letter to employees. “We understand not everyone will agree with this approach,” Niccol wrote in the announcement. “We’ve listened and thought carefully. But as a company built on human connection, and given the scale of the turnaround ahead, we believe this is the right path for Starbucks.” Under Niccol’s leadership, the coffee chain has been attempting to reverse its slumping U.S. sales. His strategy has focused on simplifying the chain’s menu, improving the coffee shop experience, and cutting service times to four minutes per drink.

Home & Road

Kuhn Rikon expands kitchenware market by acquiring traditional German baking brand

Swiss cookware specialist Kuhn Rikon has acquired a traditional German baking brand, further expanding its footprint in the European kitchenware market. The acquisition, completed on 10 July 2025, strengthens Kuhn Rikon’s product range in baking and enhances its presence in Germany. Städter, based in Allendorf, Hesse, is known for its extensive range of baking tools including cookie cutters, pans and accessories. Both companies will continue to operate independently, with Städter retaining its current management and structure. Managing Director Volker Voss will continue to lead Städter and also join Kuhn Rikon’s management team.

Houston luxury design center sold after 58 years

The founders and owners of Ladco Inc., a distributor of luxury interior design products and services, have sold the company after a 58-year run. Co-founders Phillip and Ronnie Ladin converted Ladco into an Employee Stock Ownership Plan (ESOP) in 2013, making every employee a shareholder in the company. This month, the company has been sold to Cascata Capital, a group of investors representing luxury real estate developers and builders. Terms of the sale were not disclosed. “We are excited for the opportunity to partner with the Ladins and the rest of the Ladco team to build on the company’s reputation and success over the past 58 years,” said Chris Cuzalina, founder of Cascata Capital. As part of the transition, the company will change its name to Ladco LLC.

Jewelry & Luxury

Ben Bridge Jeweler Acquires Olympic Manufacturing

Ben Bridge Jeweler has acquired Olympic Manufacturing, a full-service jewelry repair and manufacturing company based in Bellevue, Washington. The price of the acquisition was not disclosed. The move marks a step towards greater vertical integration, said the jeweler, allowing it to offer improved, speedier, and more customized services to its customers. “We are thrilled to officially welcome this exceptional team into the Ben Bridge family,” said Lisa Bridge, president and CEO of Ben Bridge Jeweler. It will also allow Ben Bridge to expand its business-to-business services, offering manufacturing and repair support to other independent jewelers.

Richemont’s Jewelry Sales Up 7% in Q1

Despite a “volatile” geopolitical and macroeconomic environment, Richemont posted a solid first quarter, bolstered by continued strength in its jewelry division. For the first quarter ending June 30, Richemont reported sales of €5.41 billion ($6.28 billion), up 3 percent year-over-year at actual exchange rates (6 percent at constant exchange rates). The Americas, Europe, the Middle East, and Africa saw double-digit growth. Sales were “stable” in the Asia-Pacific region and down in Japan against tough comps. In the Americas, sales grew 10 percent (17 percent at constant exchange rates), which Richemont said was driven by local demand across all business areas and markets. The company saw consistent growth across all distribution channels, led by the jewelry division. Both in-store and online sales grew 3 percent year-over-year (6 percent at constant exchange rates).

Rio Tinto Names New CEO, Production Rises at Diavik

Rio Tinto, the sole owner of Canada’s Diavik Diamond Mine, has named a new chief executive. The London-based mining company announced that Simon Trott, the current head of its iron ore business, will replace Jakob Stausholm as chief executive, effective Aug. 25. Stausholm also will resign from the company’s board of directors. Trott has been with Rio Tinto since 2012. He was appointed chief commercial officer in January 2018 and became chief executive of the company’s iron ore business in March 2021. Dominic Barton, chair of Rio Tinto’s board of directors, said, “Simon came into our iron ore business at a time of significant challenges and has been instrumental in rebuilding culture, strengthening external relationships, and setting us on a pathway for growth.”

Office & Leisure

Crown Concepts acquires Radical Arizona, expands partnership with Radical Motorsport

Crown Concepts, a premier performance automotive business based in Arizona, has announced the acquisition of Racing Equipment Sales (trading as Radical Arizona) and the signing of a full dealership agreement with Radical Motorsport, the global manufacturer of world-renowned purpose-built race cars.  The agreement solidifies Crown Concepts’ position as the Southwest’s leading destination for Radical sales, service, parts, engine rebuilds, and national-level racing support.  As part of the agreement, Crown Concepts will continue to operate from its 27,500 sq. ft., Tucson-based performance facility, while also supporting Radical drivers at Apex Motor Club, Inde Motorsports Ranch, Podium Club and national-level Radical Cup events.

Go Bananas: Moose Toys Acquires Bananagrams

Moose Games is a $100M business and continues to develop in new ways.  Moose Toys has acquired the popular word tile game Bananagrams.  This move strengthens Moose Toys’ growing games portfolio and brings together two family-owned companies that value creativity and innovation in play. Moose Toys launched its games division three years ago and has been developing it ever since.  The family-friendly word game, which famously comes in a travel-friendly case that replicates a banana, is played in more than 30 countries and 16 languages.

BRP Inc. Agrees to Sell Manitou Boat Business to Owners of Bentley Pontoons

BRP, Inc., the Canada-based parent of Sea-Doo, Ski-Doo, and Lynx, has entered into a definitive agreement whereby members of the Marcott family, owners of Bentley Pontoons, will acquire Manitou Pontoon Boats’ assets in Lansing, MI.  This transaction follows BRP’s decision to sell its Marine businesses, allowing it to double down on its core powersports activities.  This announcement follows the sale of Alumacraft, which was finalized during the second quarter of BRP’s Fiscal 2026 as expected, and the agreement for the sale of the Telwater business, still subject to certain customary closing conditions.

Technology & Internet

Blackstone drops out of consortium bid for TikTok U.S.: Reuters

Private equity giant Blackstone has withdrawn from a consortium seeking to invest in TikTok’s U.S. operations, a source familiar with the matter told Reuters on Friday. The latest change came as uncertainty has mounted and there have been several delays in the TikTok deal now at the center of U.S.-China trade talks. Blackstone had planned to take a minority stake in the TikTok U.S. business in a deal orchestrated by President Donald Trump. The consortium is led by Susquehanna International Group and General Atlantic, current investors in TikTok’s Chinese owner ByteDance. The group had emerged as the front-runner to secure TikTok’s U.S. business in a deal under which U.S. investors would own 80% of TikTok, while ByteDance would retain a minority stake.

Google Cloud pours more than $25B into domestic AI infrastructure

Google will spend more than $25 billion to build out data centers and AI infrastructure across the Pennsylvania-based PJM Interconnection power grid in the next two years, the company said at the inaugural Pennsylvanian Energy and Innovation Summit hosted by Senator Dave McCormick and attended by President Donald Trump. In addition to expanding its cloud footprint in a region that stretches contiguously across 13 states, including Illinois, New Jersey, Ohio, and Virginia, the hyperscaler committed more than $3 billion to modernizing two hydropower plants located in Pennsylvania and launched an AI skills training initiative called AI Works for America.

Finance & Economy

U.S. inflation accelerated last June to 2.7%, highest level since February 2025

Inflation rose last June to its highest level since February as President Donald Trump’s sweeping tariffs are pushing up the cost of a range of goods, including furniture, clothing, and large appliances. Consumer prices rose 2.7% in June from a year earlier, the Labor Department said, up from an annual increase of 2.4% in May 2025. On a monthly basis, prices climbed 0.3% from May to June, after rising just 0.1% the previous month. Worsening inflation poses a political challenge for President Donald Trump, who promised during last year’s presidential campaign to immediately lower costs. The sharp inflation spike of 2022-2023 was the worst in four decades and soured most Americans on former president Joe Biden’s handling of the economy. Higher inflation will also likely heighten the Federal Reserve’s reluctance to cut its short-term interest rate, as Trump is loudly demanding.

Oil Steadies as Supply Concerns Offset Strong Dollar

Oil was steady in London as traders weighed supply disruptions in Iraq against a strong rebound in the dollar. Brent was little changed at $68.47 a barrel. The US dollar strengthened — typically a bearish indicator for commodities — as anxiety abated over the future of Federal Reserve Chair Jerome Powell. On the supply side, stockpiles at key U.S. storage hub Cushing rose, and Iraq has lost about 200,000 barrels per day of oil production due to drone attacks on several fields in Kurdistan. “While inventories globally have built very significantly, stocks in the pricing centers – especially in the US – are still quite low,” Goldman Sachs head of oil research Daan Struyven said on Bloomberg Television.

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