Monday, July 6, 2026

Oil Steadies as Hopes of Easing Trade Tensions Lend Support

From Reuters Oil prices steadied on Tuesday on optimism U.S.-China trade tensions will ease and hopes major economies will take stimulus measures to ward off a possible economic slowdown, after falling earlier on concerns over future demand. Brent crude LCOc1 settled 29 cents, or 0.5%, higher at $60.03 a barrel, while U.S. crude CLc1 rose 13 cents to $56.34 a

Cushing oil storage tanks -oilandgas360

Lotus Midstream Mulls Reversing West Texas to Cushing Pipeline – Sources

From Reuters Pipeline operator Lotus Midstream LLC may reverse flows on a line now sending crude from West Texas to Cushing, Oklahoma, the main hub for pricing U.S. crude futures, three people familiar with the matter said on Tuesday, an unusual move that could lift U.S. benchmark prices by draining supplies. Reversing the flow on a portion of Lotus’s Centurion

U.S. Oil Firms Challenge Pipeline Surcharge for Steel Tariff: Filing

From Reuters Two U.S. shale producers have challenged an energy pipeline operator’s proposed surcharge for the Trump administration’s 25% tariff on imported steel, raising the stakes for pipeline builders facing higher construction costs. The United States imposed tariffs on imported steel and aluminum last year to shield U.S. producers from overseas competition. U.S. energy industry trade groups have warned the