(Bloomberg) — Oil tumbled to the lowest in more than three months on fears China’s deadly coronavirus will hit demand in a market that already has plentiful supply.
Futures plunged more than 3% as China reported an increase …
LONDON – Oil extended losses on Friday to trade below $61 a barrel, heading for a weekly decline as concern that the coronavirus in China may spread, curbing travel and oil demand, outweighed the impact of cuts to supply.…
Gulf Resources, Inc. Regains Compliance with Nasdaq Shareholder Approval Requirements
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NEW YORK – Oil prices steadied on Friday as sluggish economic growth in China, the world’s biggest crude importer, raised concerns over fuel demand and countered optimism from the signing of a China-U.S. trade deal.
Brent crude LCOc1 futures …
Oil erased most of its loss for the week, as the price gain after the signing of the U.S.-China trade agreement offset signs that supplies remain plentiful.
The phase-one deal committed Beijing to $52.4 billion in additional …
Plans to build a new $8 billion refinery in Mexico got a boost from the Chinese government.
During a Monday morning event in Mexico City, China’s ambassador to Mexico Zhu Qingqiao announced that the Bank of China and the …
SINGAPORE – China has raised the volumes of its first batch of 2020 fuel export quotas by 53% from a year earlier to 27.99 million tonnes, according to a document from the Ministry of Commerce that was reviewed by …
Oil in New York headed for its biggest annual increase since 2016, as OPEC’s production cuts tempered supplies while a trade pact between the U.S. and China buoyed the outlook for demand.
West Texas Intermediate futures have climbed …
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LONDON – Oil prices fell on Friday, but were set for a third straight weekly gain after the easing of U.S.-China trade tensions, which has boosted business confidence and the outlook for global economic growth.
Brent LCOc1 was down …
BEIJING/SINGAPORE – China and the United States have agreed terms of a “phase one” trade deal under which Washington reduced some tariffs and Beijing canceled retaliatory duties that were previously scheduled to take effect on Dec. 15.
Before Sunday’s …
China announced the creation of its long-planned national oil and gas pipeline company, officially kicking off one of its biggest energy revamps aimed at helping supply keep pace with swelling demand.
The move marks a “key step” in China’s …
Oil prices fell on Monday after data showed Chinese exports declined for a fourth straight month, sending jitters through a market already concerned about damage to global demand by the trade war between Washington and Beijing.
Brent futures …
Over the next two weeks, representatives from 200 countries are convening for the United Nations Climate Change Conference in Madrid. The Conference of the Parties to the UN Convention on Climate Change (COP) is tasked with making sure the …
Oil steadied on signs of progress in trade talks between the U.S. and China, and estimates that American crude inventories retreated for the first time in five weeks.
Futures traded little changed near $58 a barrel in New …
Source: Houston Chronicle
Oil refiners hoping for some fourth-quarter gravy are facing disappointment as surging freight rates inflate the cost of buying crude.
U.S. sanctions on Chinese shipping companies and Friday’s attack on an Iranian tanker have turbo-charged transport costs, …
Source: CNBC
The U.S. has come to a “very substantial phase one deal” with China in the high-stakes trade negotiations between the two economic superpowers, President Donald Trump said Friday.
“Phase two will start almost immediately” after the first phase …
Source: Reuters
MEXICO CITY/SINGAPORE (Reuters) – Nearly 300 oil tankers globally have been placed off limits as companies fear violating U.S. sanctions against Iran and Venezuela, driving freight rates to new highs, industry sources said.
The move has taken roughly …
Source: Reuters:
Oil prices slid on Tuesday as Washington’s blacklisting of more Chinese companies dampened hopes for a trade deal between the two countries, though unrest in Iraq and Ecuador lent some support to crude prices.
Both Brent crude …
Source: Reuters:
Russia’s liquefied natural gas (LNG) producer Novatek is in talks to tranship its Yamal cargoes in Norway or Russia’s Murmansk because it is unsure of the impact of U.S. sanctions on the Chinese COSCO tankers it uses, …
Source: Reuters
Oil prices settled lower on Monday, paring earlier gains as hopes of a comprehensive U.S.-China trade deal faded and a new poll showed analysts expected U.S. oil crude inventories to have risen last week.
Brent crude LCOc1 settled …
Sempra Energy (NYSE: SRE) today announced that it has entered into an agreement to sell its equity interests in its Peruvian businesses, including its 83.6% stake in Luz del Sur S.A.A. (Luz del Sur), to China Yangtze …
Source: Reuters
A Canadian company has loaded a test cargo of solid bitumen onto a vessel destined for a refinery in China, the latest effort by the energy industry to avoid congested export pipelines and find new ways to export …
From Reuters
China Petroleum & Chemical Corp, or Sinopec, is seeking a tariff exemption for U.S. oil being imported in coming months, sources familiar with the matter said, after Beijing late last week imposed retaliatory tariffs on U.S. goods, including …
From Reuters
Oil prices fell 1% on Monday on the outlook for increased supply of Iranian crude after France’s president lifted hopes for a deal between Washington and Tehran, but losses were limited by optimism surrounding a U.S.-China trade deal.…
From Reuters
China on Friday said it would impose tariffs on U.S. crude oil imports for the first time, sending prices down nearly 4% to two-week lows as the escalating bilateral trade war fed worries over a slowdown in global …
From Reuters
President Donald Trump on Friday pressured U.S. companies to leave China after Beijing unveiled retaliatory tariffs on $75 billion in U.S. goods, stoking fears their escalating trade war will tip the global economy into recession.
Trump, who has …
From CNBC
An escalating trade war between the world’s two largest economies is negatively impacting the outlook for U.S. crude shipments, energy analysts have warned, amid fears that China could soon dramatically reduce its intake of American oil.
Trade tensions …
From Reuters
Oil prices on Tuesday jumped by the most so far this year after the United States said it would delay imposing a 10% tariff on certain Chinese products, easing concerns over a global trade war that has pummeled …
