Russia’s Oil and Gas Revenues Dip to January 2023 Low
Russia's revenues from oil and gas for the budget declined by 33.7%...
Russia's revenues from oil and gas for the budget declined by 33.7% in June compared to the same period a year earlier, reaching the lowest level since January 2023, amid weaker commodity prices and a stronger Russian ruble.
For June, total budget revenues from oil and gas dipped to $6.3 billion (494.8 billion Russian rubles), according to data from Russia’s finance ministry published on Thursday.
Lower budget income from oil and gas is a problem for Russia’s war economy, in which spending on defense and military is now at its highest since the end of the Cold War.
Russia said at the end of April it expects 24% lower revenues from oil and gas this year compared to earlier estimates, following the oil price crash that began in early April and sank the price of its flagship Urals crude close to the $50 per barrel mark.
U.S. natural gas inventory net change of +55 Bcf for week ended June 27
Working gas in storage was 2,953 Bcf as of Friday, June 27, 2025, according...
Working gas in storage was 2,953 Bcf as of Friday, June 27, 2025, according to EIA estimates. This represents a net increase of 55 Bcf from the previous week. Stocks were 176 Bcf less than last year at this time and 173 Bcf above the five-year average of 2,780 Bcf. At 2,953 Bcf, total working gas is within the five-year historical range.
Israeli refiner ORL (TLV:ORL) stated that it had partially resumed operations...
Israeli refiner ORL (TLV:ORL) stated that it had partially resumed operations at its 197,000 b/d Haifa refinery, which was shut down following Iranian strikes during the 12-Day War, with the goal of being fully operational by October 2025.
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.
