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Oil Updates — prices steady amid bearish Trump tariff outlook, weaker US dollar
- Threat of 50% tariffs on Brazil, copper cloud growth outlook
- Weaker US dollar, US gasoline demand growth provide support
- OPEC+ actual output unlikely to rise much, even with quota increases — analysts
SINGAPORE: Oil prices were steady on Thursday as investors weighed the potential impact of US President Donald Trump’s tariffs on global economic growth, while a weaker dollar and signs of strong US gasoline demand underpinned prices.
Brent crude futures were up 4 cents at $70.23 a barrel by 8:00 a.m. Saudi time. US West Texas Intermediate crude fell 1 cent to $68.37 a barrel.
On the demand side, macro uncertainty has led to a more cautious buying environment, particularly in Asia, said analytics firm Kpler in a note, while adding that geopolitical risk premiums have faded with the Israel-Iran ceasefire holding.
On Wednesday, Trump threatened Brazil, Latin America’s largest economy, with a punitive 50 percent tariff on exports to the US, after a public spat with his Brazilian counterpart Luiz Inacio Lula da Silva.
He has also announced plans for tariffs on copper, semiconductors and pharmaceuticals, and his administration sent tariff letters to the Philippines, Iraq and others, adding to over a dozen letters issued earlier in the week, including for powerhouse US suppliers South Korea and Japan.
As policymakers remain worried about the inflationary pressures from Trump’s tariffs, only “a couple” of officials at the Federal Reserve’s June 17-18 meeting said they felt interest rates could be reduced as soon as this month, the minutes released on Wednesday showed.
Higher interest rates make borrowing more expensive and reduce demand for oil.
Supporting oil prices, however, is a weaker US dollar in today’s Asia trading session, said OANDA senior analyst Kelvin Wong. A weaker dollar lifts oil prices by making it cheaper for holders of other currencies.
Also supporting prices, US crude stocks rose while gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday. Gasoline demand rose 6 percent to 9.2 million barrels per day last week, the EIA said.
Global daily flights were averaging 107,600 in the first eight days of July, an all-time high, with flights in China reaching a five-month peak and port and freight activities indicating “sustained expansion” in trade activities from last year, JP Morgan said in a client note.
“Year to date, global oil demand growth is averaging 0.97 million barrels per day, in line with our forecast of 1 million barrels per day,” the note said.
Additionally, there is doubt the recent increase in production quotas announced by OPEC+ will result in an actual increase in production, as some members are already exceeding their quotas, said Tony Sycamore, an analyst at IG.
“And others, like Russia, are unable to meet their targets due to damaged oil infrastructure,” he said.
OPEC+ oil producers are set to approve another big output boost for September, as they complete both the unwinding of voluntary production cuts by eight members, and the UAE’s move to a larger quota.
China says ‘verifying’ case of citizens held for alleged spying in Ukraine
- Ukraine’s SBU security service said the son was a 24 year old former student of a technical university in Kyiv, and that the father, who lives in China, had traveled to Ukraine to coordinate his son’s “espionage activities”
BEIJING: Beijing said Thursday it was still “verifying” the case of a Chinese father and son detained by Ukraine for allegedly trying to smuggle navy missile technology out of the war-torn country.
“If Chinese citizens are involved, we will... safeguard Chinese citizens’ legitimate rights and interests in accordance with the law,” foreign ministry spokeswoman Mao Ning said.
Relations between Kyiv and Beijing, a key Russian ally, are strained.
Ukraine and the West accuse China of enabling the Russian invasion through trade and of supplying technology, including for deadly drone attacks.
Ukraine also says dozens of Chinese citizens have been recruited by Russia’s army and sent to fight.
Ukraine’s SBU security service said Wednesday the son was a 24-year-old former student of a technical university in Kyiv, and that the father, who lives in China, had traveled to Ukraine to coordinate his son’s “espionage activities.”
The two were “attempting to illegally export secret documentation on the Ukrainian RK-360MC Neptune missile system to China,” the agency said.
Moscow and Beijing struck a “no limits” partnership on the eve of Russia’s February 2022 invasion, and have since deepened political, military and economic cooperation.
Recipes for Success: Chef Tomlin George Graham offers advice and a tasty jerk chicken recipe
DUBAI: Chef Tomlin George Graham began his career 16 years ago, but his love for cooking started long before that — at home in Jamaica. Graham was raised in a family where recipes and techniques were passed down through generations, and he discovered his passion for food early.
Graham’s career has taken him across the globe, from working for Carnival Cruise Line in the US to leading kitchens in Qatar and serving as a private chef to the governor general at King’s House in Jamaica. He also played a key role in opening a Jamaican restaurant in Qatar.
He is now based in the UAE, serving as head chef at Ting Irie, which has branches in Dubai and Abu Dhabi, and bills itself as the country’s first Jamaican restaurant and lounge.
When you started out, what was the most common mistake you made?
Not following recipes in the proper order. The end results were always less than ideal, but, honestly, also quite amusing.
What’s your top tip for amateur chefs?
Taste frequently while cooking. It helps you understand how flavors are formed and will also help you become experienced at adjusting herb and spice amounts. Also, keep an open mind and soak up as much knowledge as you can from other cooks.
What one ingredient can instantly improve any dish?
Garlic. It’s rich and aromatic and it can be used in multiple forms — raw, sautéed, roasted, powdered or fermented — at different cooking stages.
What’s your favorite cuisine or dish to order?
I actually tend to dine out to find inspiration for my dishes. Exploring different cuisines keeps my palette fresh and can spark creative ideas in the kitchen. Japanese cuisine, in particular, is a treasure trove. The clean but complex flavors, the seasonal ingredients, the care in presentation… it always inspires me.
What’s your go-to dish if you must cook something quickly at home?
Fried chicken is a true delight. It hits all the right notes. It’s crispy, savory, juicy, and incredibly satisfying. The contrast between the crunchy, seasoned crust and the tender, flavorful meat is almost irresistible.
What customer behavior most annoys you?
I’m doing something I love, so I don’t usually get annoyed. However, customers being disrespectful or aggressive makes it harder for everyone to do their job. Customers who misunderstand their dietary restrictions can also be tricky to navigate. For instance, someone might say they’re a strict vegetarian, but then mention they eat fish — implying that they’re actually a pescatarian.
What’s your favorite dish to cook?
I have a few: Caribbean-style curried goat, jerk chicken and roasted fish. Each one carries unforgettable flavors, but also memories of home, family gatherings, the people I love and the moments we’ve shared together. For me, food is much more than nourishment; it’s a way of staying connected to my roots, my culture and the ones who matter the most. And that’s part of the reason why we also integrated those dishes into the Ting Irie menu.
What’s the most difficult dish for you to get right?
With any dish, it’s all about understanding the ingredients and how they work together. Once you get that, following the recipe becomes second nature. For me, pâté is challenging. It requires precise technique, delicate ingredients like liver or foie gras, and a time-consuming preparation process. Traditional pâtés often involve curing, baking and resting over several days.
As a head chef, what are you like? Are you a disciplinarian? Do you shout a lot? Or are you more laid back?
I run my kitchen with discipline and intensity. I believe a kitchen, much like the military, relies on structure, clear communication and accountability. I might raise my voice when necessary — but it’s never out of ego; it’s to uphold standards and keep the team focused during high-pressure moments. There is a deep camaraderie that forms when you’re creating under pressure, and I make sure that passion and pride are always part of the process.
Chef Tomlin’s jerk chicken 
Ingredients:
Whole chicken - 1500g
Pimento -20g
Scotch bonnet-10g
Cinnamon powder -5g
Ginger -15g
Fresh thyme-20g
Escallion-15g
Garlic-10g
White onion-10g
Soya sauce-10ml
Chicken spice -10g
White vinegar -15ml
Method:
Remove the tail from the chicken, then cut the chicken in half vertically, having the breast, wing, thigh and leg on each half.
Wash the chicken and set it aside
Measure all herbs and spice and set them aside
Wash the thyme, escallion, garlic, ginger, white, onion, scotch bonnet and add them all to a blender with 15g of pimento, 15g thyme, soya sauce, chicken spice, cinnamon and blend for 1 minute.
Add the blended mixture to the cut chicken and gently rub and marinate the chicken until it is fully coated (for the best taste, leave to marinate for at least 24 hours before cooking).
On the grill turn on medium heat, add the remaining 5g pimento, 5g thyme and add the chicken on grill for smoking. Close the grill and let the chicken smoke.
Turn the chicken every 15 minutes to ensure even cooking and prevent burning, until the internal temperature reaches 165°F.
Serve with sides of your choice.
PKK disarmament to take a few months in Iraq, Turkiye ruling party says
- The PKK, which has been locked in a bloody conflict with the Turkish state for more than four decades, decided in May to disband and end its armed struggle
ISTANBUL: The handover of weapons by the outlawed Kurdistan Workers Party (PKK) in Iraq, following its decision to disband, should be completed within a few months, a spokeperson for Turkiye’s ruling AK Party said late on Wednesday.
Speaking to broadcaster NTV, Omer Celik said a confirmation mechanism, including officials from Turkish intelligence and the armed forces, will oversee the handover process.
“The disarmament ... process (in Iraq) needs to be completed within three to five months... If it exceeds this period, it will become vulnerable to provocations,” Celik said on NTV.
The PKK, which has been locked in a bloody conflict with the Turkish state for more than four decades, decided in May to disband and end its armed struggle.
PKK militants are set to begin handing over weapons in the northern Iraqi city of Sulaymaniyah on Friday as part of the peace process with Turkiye.
Since the PKK launched its insurgency against Turkiye in 1984 — originally with the aim of creating an independent Kurdish state — the conflict has killed more than 40,000 people, imposed a huge economic burden and fueled social tensions.
REVIEW: ‘Jurassic World Rebirth’ — new trio fail to match chemistry of 1993 original’s heroes
BEIRUT: The latest installment of the ‘Jurassic World’ franchise promises a rebirth. It does not deliver.
The film introduces a brand-new trio — covert operative Zora Bennett (Scarlett Johansson), paleontologist Henry Loomis (Jonathan Bailey), and Zora’s former comrade Duncan Kincaid (Mahershala Ali). Each brings a unique skill set as they embark on a mission to secure genetic material from three dinosaurs (one land-based, one water-based, one avian) hidden on a remote island. Along the way, they rescue a shipwrecked family.
For the first time in years, the franchise moves away from the moral conundrums of a dinosaur-inhabited planet and returns to the contained sanctity—and danger—of an isolated island. So visually, at least, this does feel like a rebirth of the Spielberg-isms we've come to recognize. When the mood calls for awe, director Gareth Edwards’ blocking and framing work in harmony to highlight the grandeur of the dinosaurs, positioning our heroes in a humbling, almost subservient stance within this ‘alien’ world. It also nails the claustrophobic intensity required for a thriller, capturing the tension and tight pacing essential to the genre.
Where the film falls short of its “rebirth” promise is the script, which doesn’t come close to the charm of the 1993 classic. The original trio were distinct, memorable, and full of personality. Spielberg’s attention to detail had us invested from the beginning.
This script, written by David Koepp, doesn’t hit those same heights. It leans too heavily on formula, and the comedic beats often miss their mark.
That said, all is not lost. With such a strong and diverse trio at its center, there’s real potential to breathe life into this rebirth. Johansson, Bailey, and Ali are all powerhouse actors, and if the series can make full use of their abilities then it might — might — be able to ignite the fresh spark it's been needing all these years.
While the cultural and artistic value of rebooting popular franchises is up for debate, the reality is clear: they are here to stay. So filmmakers must use what worked before to its fullest potential and must also let the technological advancements propel the story in ways it could not have previously. That hasn’t happened here.
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