| Event | MarCon* | IIR Comment | Outlet | IIR News |
| Trump and Netanyahu to meet, united after Iran strikes, but ending Gaza war may prove a higher hurdle |  |
Mr. Trump has made it clear that following the 12-day war between Israel and Iran, he would like to see the Gaza conflict end soon, ideally with a ceasefire agreement reached this week. The meeting between Mr. Trump and Netanyahu could give new urgency to a U.S. ceasefire proposal being discussed by Israel and Hamas, but whether it will lead to a deal that ends the war is unclear. Israel and Hamas appear to be inching toward a new ceasefire agreement that would bring about a 60-day pause in the fighting, send aid flooding into Gaza and free at least some of the remaining 50 hostages held in the territory, 20 of whom Netanyahu says are still alive. |
CBS News | Golden Pass LNG, U.S. Ethane Exports, Declining Rig Count: Your Daily Energy News |
| Lavrov Lists Russia Demands for Ukraine Peace |  |
Russian Foreign Minister Sergei Lavrov has listed Moscow's demands for a peace deal that would end its ongoing invasion of Ukraine, including Kyiv's demilitarization and neutrality, international recognition of territory occupied by Moscow, and the lifting of sanctions. Lavrov demanded "international legal recognition of the new territorial realities," citing Russian occupation of Crimea, Sevastopol, Donetsk, Lugansk, Zaporizhzhia, and Kherson. Lavrov also called for "lifting sanctions on Russia, rescinding all lawsuits against Russia, and returning the illegally seized Western-based assets." | Newsweek | Join Industrial Info for a Podcast on the Global Pharma-Biotech Industry |
| Oil steadies as tight market supports despite big OPEC+ hike |  |
Oil on Monday shrugged off the impact of OPEC+ hiking output more than expected for August as well as concern about the potential impact of U.S. tariffs, with prices mostly reversing early losses as a tight physical market lent support. OPEC+, agreed on Saturday to raise production by 548,000 barrels per day in August, more than the 411,000 BBL/d hikes they made for the earlier three months. The OPEC+ decision will bring nearly 80% of the 2.2 million BBL/d voluntary cuts from eight OPEC producers back into the market, RBC Capital analysts, led by Helima Croft, said in a note. However, the actual output increase has been smaller than planned so far and most of the supply has been from Saudi Arabia, they added. |
Reuters | IIR Midyear Outlook: U.S. Refinery Sector in Healthy Condition |
| Stocks are lower despite Bessent saying several trade announcements are ahead |  |
Stocks fell Monday as traders weighed the latest developments on the trade front to start the week. Treasury Secretary Scott Bessent said on CNBC Monday that there would be several trade announcements over the next 48 hours, adding that he expects "it's going to be a busy couple of days." However, Bessent did not specify which countries would be involved. In an interview with reporters Sunday, President Donald Trump and Commerce Secretary Howard Lutnick were asked to clarify when tariffs are set to go into effect. In response, Lutnick said, "Tariffs go into effect Aug. 1. But the president is setting the rates, and the deals, right now." Trump nodded in approval. |
CNBC | Trump Signs Massive Budget, Tax Cut Bill Energy-Sector Mood Sours, Dallas Fed Finds |
| Natural Gas News: Futures Dip on Weather and Inventory Pressure, but Reversal Risk Builds Today | |
U.S. natural gas futures extended their downside move Monday. The early weakness reflects weekend weather models that shifted away from the high-heat projections that bulls needed to sustain momentum, extending bearish sentiment after last week's 8.8% drop on cooling forecasts. Given persistent cooler forecasts, firm production and elevated storage, natural gas prices are likely to remain under pressure in the near term. Bulls will require either an extended hot weather pattern or a notable production slowdown to break the current bearish structure and sustain any upside rally attempts. |
FX Empire | Energy Institute: Global Gas Use and Production Set Records in 2024 |
| How Europe Got Stuck Between Xi's China and Trump's America | |
In Brussels, officials are trying to secure a rough trade deal with their American counterparts before Mr. Trump hits the bloc with high, across-the-board tariffs that could clobber the bloc's economy. At the same time, European Union policymakers are trying to prod their counterparts in Beijing to stop supporting Russia, to stop helping Chinese industry with so much state money and to slow the flow of cheap goods into the European Union. But at a moment of upheaval in the global trading system, the bloc also needs to keep its relationship with China, the world's leading manufacturing superpower, on a relatively stable footing. | The New York Times | $2 Billion Fram Sør Project to Help Secure Europe's Oil & Gas |
| U.S. Insurers Are Refusing to Cover Climate Change Risk Zones | |
U.S. insurers are rapidly pulling coverage from homes in high-risk climate zones, particularly in California, Florida, and North Carolina. Millions of homeowners are facing non-renewals, impacting their ability to secure mortgages and causing housing market instability. Government and local efforts are underway to mitigate risks and persuade insurers to continue coverage, but significant gaps remain. A 2024 report by the non-profit First Street Foundation, showed that 23.9 million properties in the U.S. were at risk from damaging winds, 4.4 million properties were at risk from wildfire, and a further 12 million properties were at significant risk of flooding - in addition to properties in the Federal Emergency Management Agency (FEMA)'s Special Flood Hazard Areas. The report stated, "Private insurance companies are effectively labelling areas as uninsurable." |
OilPrice | Senate Tax Bill Could Cripple U.S. Renewable Energy Sector |
| Week 06/30/25 - 07/07/25 | |
As Uncle Sam steps away from his Independence Day weekend celebrations, one wonders if he will be able to resolve wars in Eastern Europe and the Middle East. In Eastern Europe, at the moment, Russia seems unwilling to broker peace with Ukraine unless unreasonable demands are met. Though in the Middle East, there might be signs of another pending ceasefire between Israel and Gaza as Netanyahu goes to Washington; the jury is still out on whether this would lead to a deal which would end the war itself. Meanwhile, the Economic and Oil Markets prepare for a volatile, topsy turvy week as Uncle Sam seeks to wrangle more trade deals with countries before his "pause" in U.S. tariffs is set to be lifted. Hold onto your (top) hats as this week is likely to be blustery with trade and other winds seemingly blowing from all directions at once... | ||
| *MarCon (Market Condition 1-5, with 5 being the highest impact) indicates directional bias or price effect for the relevant commodity (Oil, Natural Gas, Chemicals, etc.) and is graded by our team of experts here at IIR. | ||||
Site-wide Scheduled Maintenance for April 12, 2025, between 9 A.M. - 9 P.M. CST. During this time, all services will be unavailable periodically throughout the scheduled maintenance window.
×Contact Us
For More Info!
