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US diplomat: Kremlin waits for right moment to annex Kherson Oblast.

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According to Michael Carpenter, the U.S. ambassador to the OSCE, Russia may use the illegal referendum as a tool to do so. So far, at least 600 people have reportedly been tortured in the region, including local officials, journalists and activists. “Kherson has become what I would call a laboratory of horrors,” said Carpenter during a press conference in Vienna.

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Seaborne crude flows averaged 3.12 million barrels a day over the four weeks to July 6, a 3% decline from the previous period ending June 29, according to tanker-tracking data compiled by Bloomberg. That's the lowest level recorded since the four-week period ending Feb. 23.

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