From Reuters Oil prices plummeted more than 7% on Thursday, with the U.S. benchmark posting its worst day in more than four years, after President Donald Trump said he would impose additional tariffs Chinese imports starting Sept. 1. The drop in Brent crude was the steepest in more than three years, undoing a fragile oil rally built on steady drawdowns
By Tyler Losier, Energy Reporter, Oil & Gas 360 Actually, it’s been a rough few weeks for crude oil. West Texas Intermediate near-month futures are down just about 20% since WTI peaked at $66.60 in late April of this year, closing out yesterday at $53.25. And by the look of today’s NYMEX chart, it seems as though the rollercoaster ride
From S&P Global/Platts Washington — Top US energy and agriculture officials will return to China next week for the latest round of trade talks that could signal whether crude and LNG flows will pick up between the two countries this year or remain mired in the dispute. The talks come just two weeks before the next potential round of tariff escalation.
From the Associated Press/Chicago Tribune Stocks fell sharply Thursday following the Trump administration’s move to place tariffs on some goods imported from China and restrict Chinese investment, with the Dow Jones Industrial Average falling about 740 points at its lowest, and losing nearly 3 percent of its value. Other markets dove, too, with S&P 500 and Nasdaq both falling by
