Oil prices have been in decline this week despite rising geopolitical risks, with markets seeming to be focused primarily on Joe Biden's decision to drop out of the presidential race. - The Asian oil market witnessed a much-needed recovery in trading after the region’s main benchmark grade Dubai weakened so much against Brent and WTI that arbitrage flows from other continents became hardly workable.- Following an extremely disappointing June performance, China’s state-owned oil companies Unipec and PetroChina have boosted spot…
