President Trump’s 90-day tariff pause ends on Wednesday
Trump broke out his “Liberation Day” poster board on April 2, unveiling...
Trump broke out his “Liberation Day” poster board on April 2, unveiling aggressive tariffs against basically every country in the world. After stock and bond markets tanked, he paused tariffs to give countries time to work out trade deals with the US. Later that month, Trump told Time magazine that he had “made 200 deals,” though only three deal “frameworks” have been announced. With Wednesday’s deadline approaching, Treasury Secretary Scott Bessent told CNN yesterday that Trump will start sending letters to countries this week, warning, “If you don’t move things along, then on August 1, you will boomerang back to your April 2 tariff level.” Bessent said this does not amount to a new deadline.
International sports have the stage: Wimbledon is serving up tennis action all week,...
International sports have the stage: Wimbledon is serving up tennis action all week, with the finals set for this weekend. FIFA’s soccer Club World Cup is down to the semifinals, with Fluminense battling Chelsea on Tuesday, then Paris Saint-Germain and Real Madrid facing off on Wednesday. The winners play in the final on Sunday. And if grass isn’t your thing, the world’s top cyclists will be fighting over the yellow jersey all week in the Tour de France.
The Justice Department and the FBI concluded that Jeffrey Epstein did not keep a “client list” and was not murdered, according to an exclusive from Axios.
An Australian woman was found guilty of fatally poisoning three family members in the “mushroom murder case.”
Ozzy Osbourne performed what he called his farewell show in his hometown of Birmingham, England, yesterday for 40,000 fans.
The Seine River in Paris was reopened to public swimming for the first time in over 100 years.
Jurassic World Rebirth racked up the biggest worldwide movie opening of the year so far.
Pipeline Disruption Slashes Ecuador Output by 133,000 bpd
Ecuador’s state oil company, Petroecuador, has...
Ecuador’s state oil company, Petroecuador, has declared force majeure on its operations after both major crude pipelines, SOTE and OCP, halted flows due to worsening erosion in the Amazonian province of Napo. The company suspended activities this week to prevent further damage to critical infrastructure as erosion along the Coca River continues to threaten oil transport lines and the Coca Codo Sinclair hydroelectric plant, Ecuador’s largest.
The suspension has already cut Ecuador’s crude output by an estimated 133,000 barrels per day (bpd), based on Petroecuador data, placing fresh strain on the country’s oil-dependent economy. Ecuador produced about 464,000 bpd on average in 2024, according to official statistics.
"Force majeure has been declared so that (Petroecuador) can act with all the tools necessary," Petroecuador chief executive Leonard Bruns told Reuters.
Oil prices fall as OPEC+ ramps up production; U.S. stock futures decline as tariffs to go into effect Aug. 1
Crude oil prices fell Sunday after the Organization...
Crude oil prices fell Sunday after the Organization of the Petroleum Exporting Countries and its allies announced Saturday they will increase oil production by a larger-than-expected amount in August, as part of a continuing effort to reclaim market share by lowering prices.
Meanwhile, U.S. stock-market futures declined as the Trump administration said a broad swath of tariffs against U.S. trade partners won’t take effect until Aug. 1, rather than July 9.
West Texas Intermediate crude for August slid about 1.9% late Sunday, to around $65.68 a barrel. Brent crude for September, the global benchmark, fell about 1.2%.
Fourth of July gasoline prices may be the lowest in years. Will gas stay this cheap all summer?
U.S. drivers may pay the lowest Independence Day prices...
U.S. drivers may pay the lowest Independence Day prices for gasoline at the pump since 2021, as easing tensions between Israel and Iran have helped pull oil prices lower. However, whether cheaper fuel prices will persist for the rest of the summer is a bit harder to predict.
Heightened production from the Organization of the Petroleum Exporting Countries and its allies (OPEC+), along with trade-policy concerns, have muted the “typical springtime rise in prices,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
Earlier this week, the average price for regular unleaded gasoline was $3.155 a gallon, according to GasBuddy. That’s up 6.2 cents a gallon from a month ago, but down 34 cents from a year ago.
