Brent crude traded in a $44.00-$46.00/bbl range throughout August, boosted by recovering oil demand despite escalating US/China tensions.

GBP rose to an eight-month high of 1.327 against USD in August in response to optimism over a Brexit agreement and continued high unemployment claims in the US.

Adverse weather in late August forced a shutdown of more than 80% of US Gulf Coast Production, a region responsible for c. 25% of total US output.