Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In light of the implications of global developments for the economic outlook as well as muted inflation pressures, the Committee decided to lower the target range for the federal funds rate to 2 to 2-1/4 percent.

"I think Iran will look at it as a successful cost imposition to the adversary," "They're making all of the adversaries now rally forces, move them into the theater, put them at risk in the theater and pay for that presence at a very hefty price."

"We are committed to keeping the Strait of Hormuz open and secure," Pompeo said.

U.S. exports of liquefied natural gas (LNG) have been growing steadily and reached a new peak of 4.7 billion cubic feet per day (Bcf/d) in May 2019,

U.S. Real gross domestic product (GDP) increased at an annual rate of 2.1 percent in the second quarter of 2019, according to the "advance" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 3.1 percent.

South Korea's Doosan Heavy Industries & Construction (DHIC) signed the 'business collaboration agreement' with US small modular reactor developer NuScale Power for supply of NuScale Power Modules and other equipment. Doosan also signed the 'unit purchase agreement' through which it will make a cash equity investment in NuScale with Korean financial investors.

U.S. Rig Count is down 8 rigs from last week to 946, with oil rigs down 3 to 776, gas rigs down 5 to 169, and miscellaneous rigs unchanged at 1. Canada Rig Count is up 9 rigs from last week to 127, with oil rigs up 2 to 85 and gas rigs up 7 to 42.

At 445 million bbl, US crude oil inventories are 2% above the 5-year average for this time of year,

U.S. EIA - Crude oil production from the major US onshore regions is forecast to increase 49,000 b/d month-over-month in July from 8,497 to 8,546 thousand barrels/day, gas production to increase 745 million cubic feet/day from 81,213 to 81,958 million cubic feet/day .

the U.S. the number of yet-to-be-fracked wells hit 8,289 in May, up 22% in a year, according to the U.S. Energy Information Administration.