Afternoon Coffee: West Coast Ports See Uptick In Activity During June, Oil Prices Fall to 6-Month Lows

cup of coffee

West Coast ports experienced an increase in import traffic during June. The share of container imports at the ports rose to 47.1%, up from 45% in April and May.

Oil prices hit lows not seen since earlier this year. Brent prices fell as low as $48.88 earlier today, a 6-month low, and US crude prices sank to a 4.5-month low of $44.20. Experts say prices are likely to fall even further.

A total of 34.5 million cars were recalled in the US between January and July of this year. While high, the number of recalls is still under the record set in 2014 of 49 million cars during the first 7 months of a year.

Unemployment benefit claims rose last week to a seasonally adjusted 270,000, but the number is still considered low and a sign of a healthy job market. July employment data is set to be released tomorrow as well, and is expected to show that employers added 225,000 jobs during the month.

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