Market News and Commentary July 5

Saudi Plans First Change In Asia Crude Oil Price Formula In Decades, To Use DME Oman. Mueller taps more prosecutors to help with growing Trump probe. Jobless claims hit 6-week high of 231,000, but layoffs still near lowest level in decades. Argentina’s currency crisis is far from over. US Navy: Will protect commerce in face of Iran oil threat. U.S. oil prices down after EIA reports surprise weekly climb in U.S. crude supplies. Trump orders OPEC to tame gas prices, but analysts blame his Iran sanctions for rising fuel costs. Noble Energy adds to Permian-to-Gulf crude pipeline capacity.

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