Oil prices ease on US tariff uncertainty ahead of expected OPEC+ output boost
(Reuters) - Oil prices fell slightly on Thursday as investors...
(Reuters) - Oil prices fell slightly on Thursday as investors worried that U.S. tariffs could slow energy demand ahead of an expected supply boost by major crude producers.
Brent crude futures settled down 31 cents, or 0.45%, lower to $68.80 a barrel. U.S. West Texas Intermediate crude fell 45 cents, or 0.67%, to $67 in thin trade on the eve of the Independence Day holiday.
President Donald Trump's 90-day pause on implementing higher U.S. tariffs ends on July 9, and several large trading partners, including the European Union and Japan, have yet to finalize trade deals. Oil traders are worried about the impact on the economy and fuel demand.
A preliminary trade deal between the U.S. and Vietnam boosted prices on Wednesday; however, overall tariff uncertainty remains a significant concern.
Also weighing on prices, OPEC+ is expected to agree to raise output by 411,000 barrels per day at its policy meeting this weekend. Also, a private-sector survey showed service activity in China - the world's biggest oil importer - expanded in June at its slowest pace in nine months as demand weakened and new export orders declined.
Fed rate cut appears less likely after stronger-than-forecast June payrolls data
The U.S. added a solid 147,000 jobs in June, indicating resilience in...
The U.S. added a solid 147,000 jobs in June, indicating resilience in the labor market, but the pace of hiring has slowed since last year as businesses grapple with trade wars and an immigration crackdown.
The unemployment rate fell to 4.1% from 4.2%, but mostly because more people dropped out of the labor force and stopped looking for work. Companies aren’t laying many people off, but they aren’t hiring very aggressively, either.
The rise in employment last month makes it less likely the Federal Reserve will move up its timetable on lowering interest rates. A weak report would have renewed Wall Street speculation of a July rate cut.
Plant maintenance drives down US LNG exports in June
Maintenance work at some facilities caused US liquefied natural gas exports...
Maintenance work at some facilities caused US liquefied natural gas exports to decline for a second consecutive month to 9.26 million short tons in June, according to LSEG data. Europe remained the top buyer with a 66% of total volumes, while shipments to Asia stayed low as economic headwinds dent LNG demand.
US shale gas producers have increased 2026 hedging to 26% of expected...
US shale gas producers have increased 2026 hedging to 26% of expected output at $4.10 per Mcf, up from 18% earlier this year, while 48% of 2025 volumes are locked in at $3.95 per Mcf, according to S&P Global Commodity Insights. With a bullish outlook driven by liquified natural gas growth and rising power demand, many producers are expected to limit further 2025 hedging to preserve upside potential.
The June private sector jobs report was a bummer. Payroll...
The June private sector jobs report was a bummer. Payroll processing firm ADP, which releases the monthly update, found that 33,000 jobs were lost last month, when an addition of 100,000 was expected. It marks the first decrease since March 2023. A press release accompanying the report said that while layoffs remain rare, employers are choosing not to hire for new roles or to replace departing employees. The report is considered an important, but not superior, precursor to the monthly jobs report released by the Bureau of Labor Statistics at the Department of Labor. The government’s June report on jobs data is due out this morning.
Bryan Kohberger pleaded guilty to the murder of four University of Idaho students in 2022 as part of a deal with prosecutors.
Del Monte Foods, which probably produced the cans of green beans in your pantry, filed for Chapter 11 bankruptcy protection as it pursues a sale.
OpenAI is giving its employees a mandatory weeklong vacation to stave off a poaching spree launched by Meta.
Microsoft announced another round of layoffs—its largest in years—expected to impact thousands of workers across Xbox and other divisions, including 830 from its Redmond, Washington, HQ.
