Friday closed down -0.15 (-0.25%), and July RBOB gasoline (RBN25) closed down -0.0221 (-1.08%). Crude oil and gasoline prices today fell to 3-week lows. Dollar strength Friday weighed on crude prices along with the escalation of trade tensions between the US and China,

President Trump said that Beijing was not honoring the terms of a temporary agreement and warned of further confrontation.

Official PMI remains below 50, with ‘persistently high uncertainty’ in global trade tipped to weigh on growth outlook in both US and China.

China said it will not send its defense minister to the Shangri-La Dialogue in Singapore and recently escalated export restrictions.

Trade tensions between China and the US have been ongoing since 2018 and escalated into a full-scale trade war in 2025.

China is threatening legal action against anyone enforcing the U.S.' recent guidelines against using Huawei's AI chips.

General Motors halts US vehicle exports to China amid tariff tensions despite a recent 90-day pause in wrangling.

Consumers’ expectations for the future surged in May, as the U.S. and China cooled trade tensions. That pulled consumers’ expectations up from a 13-year low in April. But expectations remain below