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Oil prices recovered some losses on Thursday as investors weighed a potential OPEC+ output increase against conflicting tariff signals from the White House and U.S.-Iran nuclear talks. At those levels, prices have recouped about half of their losses from Wednesday, when prices slid almost 2% after Reuters reported that several OPEC+ members had suggested the group accelerate oil output increases for a second month in June. Kazakhstan, which produces about 2% of global oil output and has repeatedly exceeded its quota over the past year, said it would prioritise national interests over OPEC+ in deciding production levels.

WASHINGTON (Reuters) -U.S. Treasury Secretary Scott Bessent met Ukrainian Prime Minister Denys Shmyhal and Finance Minister Sergii Marchenko on Wednesday and stressed the need to sign an economic partnership between the two countries as soon as possible, the U.S. Treasury Department said. Washington has said it will walk away from efforts to broker a peace deal between Russia and Ukraine unless there are clear signs of progress soon. After the U.S. and Ukraine reached a memo of understanding on Thursday, U.S. President Donald Trump said he expected to sign a minerals deal with Kyiv this week.

President Donald Trump said Wednesday that Federal Reserve Chair Jerome Powell has kept interest rates too high and that he might call the central bank chief.

NEW YORK (Reuters) -Conditions still support ongoing reductions in the Federal Reserve's balance sheet, Cleveland Fed President Beth Hammack said on Wednesday, as she also noted that amid great uncertainty now is not the time to change monetary policy. Hammack, at a meeting of the Money Marketeers of New York University, spoke at length on her views on the Fed's balance sheet. "We still appear to have more than enough reserves in the system so that active management isn't needed," Hammack said.

Everyone is talking about tariffs, and no one quite knows what to make of them, the Federal Reserve's "Beige Book" shows.

The "Beige Book," as the report is known, captured early fallout from Trump's policies, describing a rush to buy cars ahead of higher import duties. There were accounts of prices that were changing quickly or about to rise sharply, and hints of layoffs to come. "Uncertainty around international trade policy was pervasive across reports," the U.S. central bank said in its latest snapshot of the nation's economic condition, based on surveys, interviews and observations collected from the commercial and community contacts of each of the Fed's 12 regional banks.

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