Energy trading activity remains seasonally thin in the ongoing summer season, with traders turning their focus towards broader macroeconomic news and away from fundamentals. Last week, Federal Reserve Chair Jerome Powell delivered his August speech at Jackson Hole, which reinforced expectations of a 25-basis point cut in interest rates in September. The latest government data revealed that the U.S. labor market has lost momentum while inflation remains elevated. However, commodity experts at Standard Chartered have predicted that downside economic…