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Sources: Kuwait's crude production averaged 1.65 mln bpd in June, up from 578,000 bpd in May. Production briefly rose to 1.9 mln bpd during the final 10 days of June.

2026-07-02

Sources: Kuwait's crude production averaged 1.65 mln bpd in June, up from 578,000 bpd in May. Production briefly rose to 1.9 mln bpd during the final 10 days of June.

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2026-07-02

White House National Economic Council director Hassett criticized former Fed chair Powell for remaining on the Federal Reserve, saying Jay Powell not stepping down is "extremely unusual" and that his staying blocks the administration from nominating

White House National Economic Council director Hassett criticized former Fed chair Powell for remaining on the Federal Reserve, saying Jay Powell not stepping down is "extremely unusual" and that his staying blocks the administration from nominating new Fed governors. Hassett also said most Fed voters "did not vote out of patriotism but because they wanted to remove Trump." Powell, whose board term runs to January 2028, said he will remain for now. He has said an investigation into a Fed building project appears politically motivated and in April said he would leave "when I think appropriate." The Fed board currently has only one member nominated during Trump's re‑election: new chair Kevin Warsh.
2026-07-02

China's Central Meteorological Observatory said the ninth named storm of the season, Bavi (tropical-storm intensity), formed on July 2. At 08:00 its center was at 11.0°N, 160.1°E — about 1,620 km ESE of Guam. Central pressure 998 hPa; max winds near

China's Central Meteorological Observatory said the ninth named storm of the season, Bavi (tropical-storm intensity), formed on July 2. At 08:00 its center was at 11.0°N, 160.1°E — about 1,620 km ESE of Guam. Central pressure 998 hPa; max winds near the center 18 m/s (~35 kt); 7-level wind radius 180–280 km. Bavi is moving WNW at ~20 km/h and is expected to gradually strengthen and could reach super-typhoon strength (58–65 m/s, 17+ level). The observatory said Bavi will not affect Chinese waters over the next six days but will tend toward China's southeast coast after July 9.
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