U.S. President Trump said he will begin proceedings to remove Federal Reserve Governor Cook.

Traders said TotalEnergies is offering millions of barrels of Iraqi crude for prompt delivery to Asian buyers, marketing Basra Medium and Basra Heavy to refiners and providing load-and-deliver shipping. After shipping via the Strait of Hormuz improved, Iraq had lagged other Gulf producers on exports; TotalEnergies' arrangement — contrasting with Iraq's State Oil Marketing Organization (SOMO), which has been selling deeply discounted spot cargoes on a lift-only basis — could accelerate Iraqi exports and add to supply pressure in Asian markets.

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.