NYMEX Oil Futures Decline as U.S. Tariff Pause Expiration Looms

Crude oil and refined product futures prices are down on Thursday as President Trump's import tariff pause on US trading partners is set to expire next week. NYMEX August West Texas Intermediate contract is down 53cts to $66.92/bbl, while Brent crude contracts are also trading lower. Distillate futures are down, while gasoline futures declines are lighter. The market is focused on trade concerns and OPEC's expected production increase announcement on Sunday.