Oil prices rose due to US-Vietnam trade deal, but OPEC+ plan to increase output

From Investing.com: 2025-07-03 01:05:00

The trade deal between the US and Vietnam pushed oil prices higher, but OPEC+ may increase output levels in August, causing uncertainty. President Trump’s 90-day reciprocal tariff pause ends next week, potentially leading to tariff reinstatements. US crude oil inventories rose for the first time since mid-May, with robust gasoline demand.

Central banks added 20 tonnes of gold to global reserves in May, up 66.7% from the previous month but below the 12-month average. Kazakhstan led the buying with 7 tonnes, followed by Poland and Turkey with 6 tonnes each. The information provided is for informational purposes only and not investment advice or recommendation.



Read more at Investing.com: Oil Gains May Be Short-Lived With OPEC+ Set to Raise Supply Again