With the Trump-Xi meeting leading to a restart of trade negotiations and the OPEC+ summit resulting in an extension of the production cuts, two major uncertainties facing the oil market have been put to rest for the time being. The next pivotal variable facing oil prices in the short run could come from an unlikely source. On Friday, the Labor Department government reported a surprisingly strong jobs report , with the U.S. adding 224,000 jobs in June, much higher than analysts had assumed. That reduced fears of a severe economic slowdown, especially after the U.S. only added 72,000 jobs the month before. Unemployment remained below 4 percent and the record length of the current economic expansion continues. Good news, right? Odd then, that oil prices barely budged, and actually fell slightly during midday trading on Friday. One would assume that a larger-than-expected employment report, particularly during a period of […]