• Education
    • Higher Education
    • Scholarships & Grants
    • Online Learning
    • School Reforms
    • Research & Innovation
  • Lifestyle
    • Travel
    • Food & Drink
    • Fashion & Beauty
    • Home & Living
    • Relationships & Family
  • Technology & Startups
    • Software & Apps
    • Startup Success Stories
    • Startups & Innovations
    • Tech Regulations
    • Venture Capital
    • Artificial Intelligence
    • Cybersecurity
    • Emerging Technologies
    • Gadgets & Devices
    • Industry Analysis
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy
Today Headline
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
Today Headline
No Result
View All Result
Home World News Middle East

Oil falls on tariff concerns, OPEC+ may boost supply

July 3, 2025
in Middle East
Reading Time: 3 mins read
A A
0
OPEC+ delays oil output hike until April, extends cuts into 2026
3
SHARES
6
VIEWS
Share on FacebookShare on Twitter


Image: Getty Images

Oil prices fell on Thursday after gaining 3 per cent in the previous session as investors are wary higher US tariffs may be reinstated, which could cause lower fuel demand, and as major producers are expected to announce an output hike.

Brent crude futures LCOc1 fell 53 cents, or 0.77 per cent, to $68.58 a barrel by 0536 GMT. US West Texas Intermediate crude CLc1 declined 51 cents, or 0.76 per cent, to $66.94 a barrel

Both contracts rose to their highest in one week on Wednesday as Iran suspended cooperation with the U.N. nuclear watchdog, raising concerns the lingering dispute over the Middle East producer’s nuclear program may again devolve into armed conflict, and the US and Vietnam reached a preliminary trade deal.

Still, there is increasing uncertainty around US trade policy as the 90-day pause on the implementation of higher tariffs will end on July 9 without any new trade deals with several large trading partners such as the European Union and Japan.

Additionally, the Organization of the Petroleum Exporting Countries (OPEC) and its allies such as Russia, known as OPEC+ will likely agreed to raise their output by 411,000 barrels per day (bpd) at their meeting this weekend.

With the uncertainty around both events, and the upcoming July Fourth Independence Day holiday in the US, “market participants will probably not want to carry too much risk into the long US weekend,” ING analysts said in a note on Thursday.

Adding to the negative sentiment, a private-sector survey showed on Thursday service activity in China, the world’s biggest oil importer, expanded at the slowest pace in nine months in June as demand weakened and new export orders declined.

Demand concerns

A surprise build in US crude inventories also highlighted demand concerns in the world’s biggest crude consumer.

The US Energy Information Administration said on Wednesday domestic crude inventories rose by 3.8 million barrels to 419 million barrels last week. Analysts in a Reuters poll had expected a drawdown of 1.8 million barrels.

Gasoline demand on a weekly basis dropped to 8.6 million barrels per day, prompting concerns about consumption in the peak US summer driving season. EIA/S

The market will be watching the release of the key US monthly employment report on Thursday to shape expectations around the depth and timing of interest rate cuts by the Federal Reserve in the second half of this year, analysts said.

Lower interest rates could spur economic activity, which would in turn boost oil demand.

A private payrolls report on Wednesday showed a contraction for the first time in two year though analysts cautioned there is no correlation between it and the government data.

!function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n;
n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)}(window,
document,’script’,’https://connect.facebook.net/en_US/fbevents.js?v=next’);

Tags: oiloil priceOPECtariffUS tariffs
Previous Post

Euro 2025 Daily: Switzerland swelters as tournament begins

Next Post

St. George’s University Partners With Legae Academy To Expand Medical Education Opportunities In Botswana | africa.com

Related Posts

Netanyahu, IDF chief said to clash in stormy meeting over plan to displace Gazans

Netanyahu, IDF chief said to clash in stormy meeting over plan to displace Gazans

July 4, 2025
5
Hamas ready to start ceasefire talks 'immediately'

Hamas ready to start ceasefire talks ‘immediately’

July 4, 2025
4
Next Post
SGU & Legae Academy Visual (1)

St. George’s University Partners With Legae Academy To Expand Medical Education Opportunities In Botswana | africa.com

  • Trending
  • Comments
  • Latest
Family calls for change after B.C. nurse dies by suicide after attacks on the job

Family calls for change after B.C. nurse dies by suicide after attacks on the job

April 2, 2025
Pioneering 3D printing project shares successes

Product reduces TPH levels to non-hazardous status

November 27, 2024

Hospital Mergers Fail to Deliver Better Care or Lower Costs, Study Finds todayheadline

December 31, 2024

Police ID man who died after Corso Italia fight

December 23, 2024
Harris tells supporters 'never give up' and urges peaceful transfer of power

Harris tells supporters ‘never give up’ and urges peaceful transfer of power

0
Des Moines Man Accused Of Shooting Ex-Girlfriend's Mother

Des Moines Man Accused Of Shooting Ex-Girlfriend’s Mother

0

Trump ‘looks forward’ to White House meeting with Biden

0
Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

0
Elizabeth Natividad wears a dress made by Maria Flores representing Lady Justice on the steps of LA City Hall

Hundreds rally against immigration raids, budget bill in downtown L.A.

July 4, 2025

Hamas signals willingness to move forward with ceasefire

July 4, 2025
AfD’s Keuter: Chancellor Merz’s rhetoric risks wider Ukraine war

AfD’s Keuter: Chancellor Merz’s rhetoric risks wider Ukraine war

July 4, 2025
Zohran Mamdani’s New York primary win sparks the ire of Modi’s supporters

Zohran Mamdani’s New York primary win sparks the ire of Modi’s supporters

July 4, 2025

Recent News

Elizabeth Natividad wears a dress made by Maria Flores representing Lady Justice on the steps of LA City Hall

Hundreds rally against immigration raids, budget bill in downtown L.A.

July 4, 2025
5

Hamas signals willingness to move forward with ceasefire

July 4, 2025
4
AfD’s Keuter: Chancellor Merz’s rhetoric risks wider Ukraine war

AfD’s Keuter: Chancellor Merz’s rhetoric risks wider Ukraine war

July 4, 2025
6
Zohran Mamdani’s New York primary win sparks the ire of Modi’s supporters

Zohran Mamdani’s New York primary win sparks the ire of Modi’s supporters

July 4, 2025
5

TodayHeadline is a dynamic news website dedicated to delivering up-to-date and comprehensive news coverage from around the globe.

Follow Us

Browse by Category

  • Africa
  • Asia
  • Basketball
  • Business & Finance
  • Climate Change
  • Crime & Justice
  • Cybersecurity
  • Economic Policies
  • Elections
  • Entertainment
  • Entrepreneurship
  • Environmental Policies
  • Europe
  • Football
  • Gadgets & Devices
  • Health
  • Medical Research
  • Mental Health
  • Middle East
  • Motorsport
  • Olympics
  • Politics
  • Public Health
  • Relationships & Family
  • Science & Environment
  • Software & Apps
  • Space Exploration
  • Sports
  • Stock Market
  • Technology & Startups
  • Tennis
  • Travel
  • Uncategorized
  • Us & Canada
  • Wildlife & Conservation
  • World News

Recent News

Elizabeth Natividad wears a dress made by Maria Flores representing Lady Justice on the steps of LA City Hall

Hundreds rally against immigration raids, budget bill in downtown L.A.

July 4, 2025

Hamas signals willingness to move forward with ceasefire

July 4, 2025
  • Education
  • Lifestyle
  • Technology & Startups
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy

© 2024 Todayheadline.co

Welcome Back!

OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Business & Finance
  • Corporate News
  • Economic Policies
  • Entrepreneurship
  • Market Trends
  • Crime & Justice
  • Court Cases
  • Criminal Investigations
  • Cybercrime
  • Legal Reforms
  • Policing
  • Education
  • Higher Education
  • Online Learning
  • Entertainment
  • Awards & Festivals
  • Celebrity News
  • Movies
  • Music
  • Health
  • Fitness & Nutrition
  • Medical Breakthroughs
  • Mental Health
  • Pandemic Updates
  • Lifestyle
  • Fashion & Beauty
  • Food & Drink
  • Home & Living
  • Politics
  • Elections
  • Government Policies
  • International Relations
  • Legislative News
  • Political Parties
  • Africa
  • Asia
  • Europe
  • Middle East
  • Artificial Intelligence
  • Cybersecurity
  • Emerging Technologies
  • Gadgets & Devices
  • Industry Analysis
  • Basketball
  • Football
  • Motorsport
  • Olympics
  • Climate Change
  • Environmental Policies
  • Medical Research
  • Science & Environment
  • Space Exploration
  • Wildlife & Conservation
  • Sports
  • Tennis
  • Technology & Startups
  • Software & Apps
  • Startup Success Stories
  • Startups & Innovations
  • Tech Regulations
  • Venture Capital
  • Uncategorized
  • World News
  • Us & Canada
  • Public Health
  • Relationships & Family
  • Travel
  • Research & Innovation
  • Scholarships & Grants
  • School Reforms
  • Stock Market
  • TV & Streaming
  • Advertise with Us
  • Privacy & Policy
  • About us
  • Contact

© 2024 Todayheadline.co