(Oil Price)– The Trump Administration has rescinded licensing requirements for U.S. exporters of ethane to China, paving the way to restoring the trade that was upended by the tariff row with Beijing. The U.S. Department of Commerce’s Bureau of Industry and Security rescinded on July 2 the license requirements set forth in a previous regulation from June 3, ethane
(BOE Report)– Venezuela exported some 844,000 barrels per day (bpd) of crude and fuel in June, an 8% increase from the previous month as the loss of the U.S. and European markets was offset by more cargoes sent to China, according to shipping data and documents. Washington in late May terminated a group of licenses that had authorized partners of
(Oil Price)– Kazakhstan’s crude oil output jumped 7.5% in June to 1.88 million barrels per day (bpd), matching the country’s all-time high set in March, according to figures leaked to Reuters. This puts Kazakhstan well over its official OPEC+ quota of 1.5 million bpd, and continues a pattern of months-long noncompliance that’s frustrating the group’s core members—especially Saudi Arabia. Total
(Oil Price)– Santos has granted exclusive due diligence access for six weeks to the consortium led by Abu Dhabi’s ADNOC that has made an $18.7 billion non-binding takeover bid for the Australian energy giant. Santos, which earlier this month received – and plans to accept – the offer, has now entered into a process and exclusivity deed with XRG, a subsidiary of
(Oil Price) – Battery makers in America have started to feel the pinch from China’s ban of exports of the critical mineral antimony, to the point of seeing the shortage as a national emergency. Last summer, China, which supplies more than half of the world’s antimony product, introduced export restrictions of the critical mineral. In December 2024, Beijing banned all antimony
(Investing) – LONDON -Oil prices were stable on Monday as investors awaited U.S.-China trade talks in London in the hope that a deal could boost the global economic outlook and subsequently fuel demand. Brent crude futures gained 11 cents, or 0.2%, to $66.58 a barrel by 1312 GMT while U.S. West Texas Intermediate crude rose by 6 cents, or 0.1%, to $64.64.
(BOE Report) – Venezuela’s oil exports remained almost unchanged last month as increased shipments to customers in China offset a decline in U.S.-authorized sales, according to vessel-tracking data and internal documents from state company PDVSA. The U.S. Treasury and State departments in March revoked the authorizations they had granted in recent years for PDVSA’s customers and partners to export oil
(BOE Report) – If there is a law of unintended consequences, then a good example is how commodity markets are adjusting to both the realities and the perceived threats of the tariff war launched by U.S. President Donald Trump. Trump’s trade and tariff measures have forced commodity producers, traders and buyers to re-think long-established relationships, adapt to emerging realities and
(Investing) – NEW YORK – Oil prices fell on Tuesday due to uncertainty in U.S.-Iran negotiations and Russia-Ukraine peace talks, while new government data delivered a cautious outlook for top crude-importer China’s economy. Brent futures were down 42 cents, or 0.6%, to $65.12 a barrel at 11:02 a.m. EDT (1502 GMT), while U.S. West Texas Intermediate (WTI) crude slid 26 cents, or
(BOE Report) – China has emerged as the top customer for Canadian oil shipped on the expanded Trans Mountain pipeline, ship tracking data showed, as a U.S. trade war has shifted crude flows in the year since the pipeline started operating. China’s new interest in Canadian oil comes as U.S. President Donald Trump’s trade war has strained relations between longtime
(Oil Price) – The United States is looking to close all loopholes Iran is using to sell its oil to China and warned Hong Kong-based banks last month against facilitating Iranian oil sales to Chinese buyers, Bloomberg reported on Friday, citing unnamed sources with knowledge of the development. In early April, a delegation from the U.S. Department of the Treasury visited Hong Kong,
(Oil Price) – Despite the trade talks breakthrough the United States and China announced earlier this week, Chinese imports of U.S. energy will remain at near zero levels, at least over the summer, while the world’s two biggest economies are negotiating a possible trade deal. The U.S. and China on Monday announced a 90-day de-escalation in the trade war, slashing their
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