International News 02 July 2025
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Oil Prices Dip Slightly Amid OPEC+ Output Hike Plans and U.S. Tariff Concerns
Oil prices slipped slightly on Tuesday (July 1), pressured by expectations of increased OPEC+ production in August and growing concerns over a potential global economic slowdown due to higher U.S. tariffs. Brent crude for September delivery fell 0.24% to US$66.58 per barrel, while WTI for August dropped 0.31% to US$64.91. OPEC+ plans to raise output by 411,000 barrels per day next month—its fourth consecutive monthly increase—bringing total 2025 supply growth to 1.78 million bpd. Meanwhile, U.S. Treasury Secretary Scott Bessent warned that countries may soon face tariffs as high as 50% starting July 9. Morgan Stanley projects Brent could drop to around US$60 in early 2026, citing easing geopolitical risks and a well-supplied market.
UK Economy Posts Fastest Growth in a Year, But Outlook Remains Weak
The UK economy grew by 0.7% in Q1 2025 — its fastest quarterly pace since early 2024 — driven by a surge in home purchases ahead of expiring tax incentives and a rise in manufacturing output before new US tariffs take effect. March GDP was also revised up from 0.2% to 0.4%, according to the Office for National Statistics (ONS). However, economists warn the growth spurt may not last, as GDP grew just 0.1% in Q4 2024 and contracted 0.3% in April. The Bank of England forecasts only 0.25% growth for Q2, while Finance Minister Rachel Reeves expressed hope that continued growth could help avoid tax hikes.
https://internasional.kontan.co.id/news/ekonomi-inggris-tumbuh-di-laju-tercepat
Jeff Bezos Sells $5.4 Billion in Amazon Shares Amid Lavish Wedding Celebration
Amazon founder Jeff Bezos sold 25 million shares of Amazon stock worth approximately $5.4 billion on June 27, 2025, via Morgan Stanley, as part of a long-term divestment plan set to run through May 2026. The transaction coincided with his extravagant wedding to Lauren Sánchez, reportedly costing $50 million. Although Bezos stepped down as Amazon CEO in 2021, he remains executive chair and a key market figure. Proceeds from his share sales have historically funded his space company Blue Origin and philanthropic initiatives like the Day One Fund and Earth Fund. Amazon’s stock remains strong, closing up 2.85% at $223, and gaining around 1.4% year-to-date. According to TipRanks, analysts maintain a bullish outlook, with a 12-month average target of $243.24, implying about 12% upside potential.