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• Energy Sector Commentary for Thursday
  Energy stocks and broader equities...

  Energy stocks and broader equities are trading firmly in negative territory, with losses in futures accelerating following robust private sector payrolls growth in June.  ADP reported new job openings grew by 497,000 in June, more than double expectations.  While this illustrates a strong labor market, it increases the likelihood of further rate increases from the Federal Reserve in the near term.

  
  

  Oil prices were little changed on Thursday as the market digested tighter crude supply alongside fears of a global economic slowdown. On the supply side, top oil exporters Saudi Arabia and Russia announced a fresh round of output cuts for August. The total cuts now stand at more than 5 million bpd, equating to 5% of global oil output.

  
  

  Natural gas futures are lower by a penny on higher gas output, which overshadowed forecasts for hotter weather.

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• Mexican Drivers Pay More for Gasoline than Americans
  American drivers have it good compared to their Mexican counterparts who on...
  American drivers have it good compared to their Mexican counterparts who on average pay 135% more for gasoline, according to data compiled by Hart Energy.
  
  The average price of regular gasoline in Mexico was $4.82/gallon (84.30 pesos per gallon) in June, Mexico’s consumer protection agency PROFECO revealed July 3 on its website. This compares to around $4.14/gallon a year ago before adjusting for inflation.
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• ☕️What Else is Brewing Thursday Morning
  Israel pulled out of the West Bank city of Jenin after a two-day, large-scale military ...
  Israel pulled out of the West Bank city of Jenin after a two-day, large-scale military operation that killed 12 Palestinians.
  
  Jenny Craig, the weight loss company that recently shut down after 40 years in business, will be revived—at least online—by former rival Nutrisystems.
  
  Just Stop Oil, the anti-fossil-fuel group, disrupted Wimbledon twice by throwing orange confetti and jigsaw puzzle pieces onto a court.
  
  Allison Mack, the Smallville actress who pleaded guilty to crimes stemming from her involvement with the NXIVM cult, has been released from prison early.
  
  Coco Lee died by suicide at age 48. The pop star famously performed a song from the Crouching Tiger, Hidden Dragon soundtrack at the 2001 Oscars.
  
  
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• UPS contract talks fell apart with a strike on the horizon
  America’s largest private-sector package delivery service and the Teamsters Union representing 340,000...
  America’s largest private-sector package delivery service and the Teamsters Union representing 340,000 of its workers accused each other of walking away from negotiations over pay yesterday. The union plans to go on strike if a deal isn’t reached before the current contract expires on July 31, a move that could hobble supply chains and weigh on the US economy. Rivals like FedEx might benefit from picking up extra business, but they would likely struggle to take on all the 20 million packages that UPS handles daily.
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• Japan gets green light to dump radioactive water in the ocean
  The UN’s nuclear agency signed off Tuesday on the nation’s controversial plan to ...
  The UN’s nuclear agency signed off Tuesday on the nation’s controversial plan to release more than a million metric tons of treated but still radioactive wastewater from the Fukushima power plant that was destroyed in 2011 into the Pacific Ocean. Some nearby countries object, but the experts are split on whether the plan is safe or could create a Godzilla situation. Other countries, including the US and China, have disposed of diluted nuclear waste in the ocean before, according to USA Today.
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