Oil down as Trump threatens India and OPEC+ pushes supplies higher

Tuesday 5th August July 2025

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Has Friday’s jobs data been forgotten about? Phil puts the question to NAB’s Rodrigo Catril, pointing out that there’s very little movement in bond yields. But there’s been no retracement either and auctions this week will test the mettle of investors as to whether any long-term damage has been done by the BLS sacking and Trump’s moves on the Fed board. There’s been a further move down in oil, as India is threatened with increased tariffs for continuing to buy Russian oil.

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