2025-08-01 12:41
Oil prices head for weekly gain US tariffs on dozens of countries take effect on August 1 Investors weigh impact from Trump threats over Russian oil LONDON, Aug 1 (Reuters) - Oil prices were little changed on Friday and heading for a weekly gain as investors weighed the impact of further importtariffsimposed by U.S. President Donald Trump and threats of sanctions. Brent crude futures were down 26 cents, or 0.36%, at $71.44 a barrel by 1212 GMT. U.S. West Texas Intermediate crude was down 18 cents, or 0.26%, at $69.08. Sign up here. Prices stabilised on Friday after losing more than 1% in the previous session, though Brent and WTI remained on course for weekly gains of 4.4% and 6% respectively. Investors have focused on the potential impact of U.S. tariffs on oil prices this week, with tariff rates on U.S. trading partners largely set to take effect from next Friday. Trump signed an executive order on Thursday imposing tariffs ranging from 10% to 41% on U.S. imports from dozens of countries and foreign territories that failed to reach trade deals by his August 1 deadline, including Canada, India and Taiwan. Partners that managed to secure trade deals include the European Union, South Korea, Japan and Britain. "We think the resolution of trade deals to the satisfaction of the market – more or less, barring a few exceptions – has been the key driver for oil price bullishness in recent days, and further progress on trade talks with China in future could be a further confidence booster for the oil market," said Suvro Sarkar at DBS Bank. Prices were also supported this week by Trump's threats to impose 100% secondary tariffs on Russian crude buyers as he seeks to pressure Russia into halting its war in Ukraine. This has stoked concern over potential disruption to oil trade flows and the removal of some oil from the market. "It is not possible to completely replace Russian oil supplies in any case, which is why effective sanctions would lead to significantly higher oil prices," said Commerzbank analyst Carsten Fritsch. JP Morgan analysts said on Thursday that Trump's threatened penalties on China and India over their purchases of Russian oil potentially put 2.75 million barrels per day (bpd) of Russian seaborne oil exports at risk. China and India are the world's second and third-largest crude consumers respectively. Some analysts, however, remain concerned that U.S. levies will limit economic growth by raising prices, which could weigh on oil demand. June inflation data on Thursday showed signs that existing tariffs are already pushing prices higher in the U.S., the world's biggest economy and oil consumer. https://www.reuters.com/business/energy/oil-steadies-investors-mull-us-tariff-impacts-2025-08-01/
2025-08-01 12:41
Aug 1 (Reuters) - U.S. liquefied natural gas developer NextDecade Corp (NEXT.O) , opens new tab said on Friday it was targeting mid-September for a final investment decision on Train 5 of its Rio Grande LNG project in Texas. The move follows its first long-term offtake deal for the fifth train and the execution of an engineering, procurement and construction contract. Sign up here. NextDecade said it was working to contract an additional 2.5 million tonnes per annum under LNG supply deals to support Train 5. LNG developers typically reach a final investment decision on projects once they have secured enough supply deals to obtain the necessary financing for construction. NextDecade is also aiming final investment decision for Train 4 in the same timeframe, having secured 20-year LNG supply deals with Aramco (2223.SE) , opens new tab, TotalEnergies (TTEF.PA) , opens new tab and ADNOC. "Phase 1 remains on schedule and on budget, and we are progressing Trains 4 and 5 quickly toward final investment decisions," NextDecade CEO Matt Schatzman said in a statement. As of June, Trains 1 and 2 and common facilities of the Rio Grande LNG facility were 48.3% complete, while Train 3 stood at 22.7%, the company said. https://www.reuters.com/business/energy/nextdecade-sets-september-final-investment-decision-rio-grande-lng-train-5-2025-08-01/
2025-08-01 12:40
NEW YORK, Aug 1 (Reuters) - The dollar fell broadly on Friday after data showed that employers added fewer jobs in July than economists had expected, while the unemployment rate moved higher in line with expectations. Employers added 73,000 jobs last month, below the 100,000 expected by economists polled by Reuters. The unemployment rate edged higher to 4.2%, as anticipated, up from 4.1% in June. Sign up here. The dollar index , which measures the greenback against a basket of currencies including the yen and the euro, was last down 0.67% on the day at 99.35, with the euro up 0.8% at $1.1506. Against the Japanese yen , the dollar weakened 0.92% to 149.38. https://www.reuters.com/world/africa/dollar-drops-employers-add-fewer-jobs-than-expected-july-2025-08-01/
2025-08-01 12:31
LONDON, Aug 1 (Reuters) - Dozens of carbon project developers are urging the registries that set standards for the voluntary carbon market to overhaul their complaints procedures, following several high-profile cases that have dented trust in the sector. The voluntary carbon market, which lets companies buy credits to offset their emissions, has been under growing scrutiny, with many environmental groups saying it generates "junk" credits that allow firms to "greenwash". Sign up here. But industry advocates say complaints about projects, which have in some cases led registries such as U.S.-based Verra to stop them from generating credits, are causing unfair damage to the sector as a whole and holding up vital sources of funding for environmental and climate initiatives. The Project Developers Forum, which represents more than 60 carbon projects from Kenya to Singapore, said current complaints procedures do not offer an effective way for developers to defend any alleged wrongdoing before it is made public. "You see a lot of projects getting suspended and it becomes public very quickly," the forum's chair, Nick Marshall, told Reuters. "Integrity is non-negotiable, but how we surface and respond to allegations matters just as much." Marshall also said a few bad actors were doing undue damage to the industry's reputation and that developers with knowledge of wrongdoing tended not to come forward because the whistle-blowing procedure was not sufficiently anonymised. He said the group has asked leading registry Verra to develop a clear policy and secure submission form on its website which would allow information about possible integrity issues to be shared anonymously. Verra told Reuters in a statement it has had a formal and robust process in place for submitting complaints since early 2024 and that it "already contains provisions that address the concerns that the PD Forum has raised". Last year, Verra rejected as many as 37 low-emission rice cultivation projects located in China following a quality control review. https://www.reuters.com/sustainability/climate-energy/carbon-project-developers-call-complaints-procedure-overhaul-2025-08-01/
2025-08-01 12:29
MOSCOW/LONDON, Aug 1 (Reuters) - OPEC+ will likely approve another oil output hike on Sunday, sources familiar with the discussions said, adding that the producer group was still debating the final size of the increase for September. OPEC+, which pumps about half of the world's oil, has been curtailing production for several years to support the market. But it reversed course this year to regain market share, and as U.S. President Donald Trump demanded OPEC pump more oil to help keep a lid on gasoline prices. Sign up here. Three sources said eight OPEC+ members could boost output by 548,000 barrels per day in September while a fourth source familiar with OPEC+ talks said discussions on the volume were ongoing and the hike could be smaller. OPEC and authorities in Saudi Arabia did not respond to requests for comment sent on Thursday. https://www.reuters.com/business/energy/opec-seen-further-raising-oil-production-sunday-sources-say-2025-08-01/
2025-08-01 12:22
WASHINGTON, Aug 1 (Reuters) - U.S. President Donald Trump on Friday urged the Federal Reserve board to assume control if Fed Chair Jerome Powell continues to refuse to lower interest rates. "Jerome 'Too Late' Powell, a stubborn MORON, must substantially lower interest rates, NOW. IF HE CONTINUES TO REFUSE, THE BOARD SHOULD ASSUME CONTROL, AND DO WHAT EVERYONE KNOWS HAS TO BE DONE!" Trump said in a social media post, using his customary capitalization for emphasis. Sign up here. The U.S. central bank held interest rates steady on Wednesday and Federal Reserve Chair Jerome Powell's comments after the decision undercut confidence that borrowing costs would begin to fall in September, stoking the ire of Trump, who has demanded immediate and steep rate relief. The latest policy decision was made by a 9-2 vote, which passes for a split outcome at the consensus-driven central bank, with two Fed governors dissenting for the first time in more than 30 years. Trump referred to the dissent in a subsequent Truth Social post: "STRONG DISSENTS ON FED BOARD. IT WILL ONLY GET STRONGER! 'TOO LATE!'" The seven members of the Fed Board of Governors are nominated by the president and confirmed by the U.S. Senate. https://www.reuters.com/world/us/trump-fed-board-should-assume-control-if-powell-wont-lower-interest-rates-2025-08-01/
