Post Tagged with: "Donald Trump"

Oil Dives Nearly 5% to Seven-Month Low on Surprise U.S. Stock Build, Trade War

Oil Dives Nearly 5% to Seven-Month Low on Surprise U.S. Stock Build, Trade War

From Reuters


Oil prices tumbled more than 4.5% on Wednesday to a seven-month low, extending recent heavy losses following a surprise build in U.S. crude stockpiles and fears that demand will shrink due to Washington’s escalating trade war with Beijing.…

Oil’s Post-Crash Bounce Fades as Buy-the-Dip Proves a Bust: Kemp

Oil’s Post-Crash Bounce Fades as Buy-the-Dip Proves a Bust: Kemp

From Reuters


Oil prices have continued to drift lower after plunging last week, highlighting the risk for traders trying to exploit mean-reversion strategies by buying futures contracts after a sharp fall in prices.

Front-month Brent futures prices tumbled by more …

Oil Falls 3% as Trade War Concerns Hit Demand Outlook

Oil Falls 3% as Trade War Concerns Hit Demand Outlook

From Reuters


Global oil benchmark Brent futures fell more than 3% on Monday on global growth concerns after U.S. President Donald Trump last week threatened China with more tariffs, which could limit crude demand from the world’s two biggest buyers.…

Oil Prices Could Crash by $30 if China Buys Iranian Crude: BofA

Oil Prices Could Crash by $30 if China Buys Iranian Crude: BofA

From CNBC


Crude oil prices could sink by as much as $30 a barrel if China decides to buy Iranian crude oil in retaliation to the latest U.S. tariff measures, according to Bank of America Merrill Lynch.

“While we retain …

Oil Gains About 3%; Records Loss for Week After Trump Tariff Threat

Oil Gains About 3%; Records Loss for Week After Trump Tariff Threat

From Reuters


Oil prices gained about 3% on Friday a day after recording their biggest daily drop in several years on U.S. President Donald Trump’s vow to impose more tariffs on Chinese imports.

For the week, crude oil benchmarks recorded …

Right-Wing Groups Ask Trump Not to Intervene With Citgo

Right-Wing Groups Ask Trump Not to Intervene With Citgo

From The Houston Chronicle


A bevy of right-wing groups are asking the Trump administration not to intercede on behalf of the Venezuelan opposition government to keep Citgo Petroleum from being seized and auctioned.

The Houston-based refiner Citgo is owned by …

Oil Slumps 7% as Trump Announces Additional Tariffs on Chinese Imports

Oil Slumps 7% as Trump Announces Additional Tariffs on Chinese Imports

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 …

Source: Citgo

Venezuela Faces the Loss of Citgo – and Desperately Needed Dollars

From The Houston Chronicle


Venezuela could lose its largest U.S. asset after a court allowed a Canadian gold miner to seize shares of Citgo Petroleum Corp.’s parent to satisfy an arbitration award.

A U.S. appeals court ruled on Monday that …

First Big U.S. Offshore Wind Project Hits Snag Due to Fishing-Industry Concerns

First Big U.S. Offshore Wind Project Hits Snag Due to Fishing-Industry Concerns

From Reuters


Trump administration infighting is holding up approval of the first major U.S. offshore wind energy project, with agencies sparring over whether the proposal does enough to protect the fishing industry, according to interviews and agency documents.

The delays …

US Economy Slowed to 2.1% Growth Rate in Second Quarter

US Economy Slowed to 2.1% Growth Rate in Second Quarter

From AP News


The U.S. economy slowed sharply in the April-June quarter even as consumers stepped up their spending.

The gross domestic product, the economy’s total output of goods and services, grew at a 2.1% annual rate last quarter, down …

Iran Reportedly Seizes Oil Tanker in Strait of Hormuz

Iran Reportedly Seizes Oil Tanker in Strait of Hormuz

By Tyler Losier, Energy Reporter, Oil & Gas 360

Iranian Revolutionary Guard seizes foreign tanker, claims it was smuggling fuel
Iran’s Islamic Revolutionary Guard Corps Navy has reportedly seized a foreign oil tanker traveling through the Strait of Hormuz, claiming

Source: Chevron Phillips

Chevron Phillips and Qatar Petroleum Team Up Again

By Tyler Losier, Energy Reporter, Oil & Gas 360

New $8 billion project would include 2,000 KTA ethylene cracker
Petrochemical company Chevron Phillips – equally owned by Chevron Corporation and Phillips 66 – has formed another joint venture with Qatar

Source: Keystone-XL

Keystone XL Pipeline Opponents Pursue New Legal Challenge

From The Seattle Times


BILLINGS, Mont. (AP) — Environmentalists asked a federal judge on Monday to cancel approvals issued by the U.S. Army Corps of Engineers for the Keystone XL oil pipeline from Canada, opening another front in the legal …

U.S. Warns Hong Kong to Avoid Tanker in Breach of Iran Sanctions | Hong Kong Rejects Warning

U.S. Warns Hong Kong to Avoid Tanker in Breach of Iran Sanctions | Hong Kong Rejects Warning

From Bloomberg


Pacific Bravo en route Hong Kong, senior U.S. official says accepting the ship would expose city to sanctions

The U.S. warned Hong Kong that it could face penalties if it does business with an oil tanker headed for …

May 29, 2019 - 6:35 am China, Closing Bell Story‎, Energy News, Trade
U.S. Proposes Tariffs on Nations with Undervalued Currencies

U.S. Proposes Tariffs on Nations with Undervalued Currencies

From AJOT/Bloomberg

The Trump administration is proposing tariffs on goods from countries found to have undervalued currencies, in a move that would further escalate its assault on global trading rules.

The proposal, laid out in a Federal Register notice released …

May 28, 2019 - 5:18 pm Closing Bell Story‎, Energy News, Trade
OPEC: Too Close to Call - Oil & Gas 360

Trump Attacks OPEC Again, Warning Against High Oil Prices

From Bloomberg

U.S. President Donald Trump resumed his attacks on OPEC, saying the global economy is too fragile to handle a price hike and urging the cartel to “relax and take it easy.”

Trump’s war of words with the Organization …

February 25, 2019 - 3:06 pm Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Wyoming Files Suit Opposing BLM Rule on Flaring - Oil & Gas 360 flare

Oil Rises as Oversupply and Trade Tension Subsides

From Reuters

Oil prices rose about 1 percent on Tuesday as the market shifted focus to the possibility of increased Chinese demand, drawing attention away from trade tensions between that country and the United States after a series of tariffs …

Oil Falls After Libyan Ports Reopen

Oil Falls After Libyan Ports Reopen

From Reuters

Global oil benchmark Brent fell more than $2 a barrel on Wednesday after U.S. President Donald Trump threatened to levy new tariffs on China and Libya announced the reopening of key oil export terminals.

The specter of tariffs …

Trump: Maybe We Should Leave Fracing Up to the Voters

Trump: Maybe We Should Leave Fracing Up to the Voters

Donald Trump Speaks in Colorado on the Eve of Independence Day

Donald Trump Speaks in Colorado on the Eve of Independence Day

Trump is headliner at the Western Conservative Summit

In his first appearance in Colorado since he launched his campaign for the 2016 presidential election, presumed Republican nominee Donald Trump spoke to several thousand attendees at an event today at the …

Clinton Promises to Raise Oil & Gas Royalties on Federal Lands

Clinton Promises to Raise Oil & Gas Royalties on Federal Lands

Clinton believes the 12.5% federal royalty rate is lagging behind

Hilary Clinton promised yesterday that she will raise the royalty rate the government charges companies that extract oil, gas and coal from onshore federal lands from 12.5% if she is …

Donald J. Trump’s Energy Policy

Donald J. Trump’s Energy Policy

Trump’s energy message is job-focused; presumed Republican candidate says he intends to remove barriers that block the development of America’s energy resources

In a campaign speech in North Dakota last week, presumed Republican presidential nominee and real estate developer Donald …

Trump Achieves 1,237 Delegate Count Thursday

From ABC News

Donald Trump reached the number of delegates needed to clinch the Republican nomination for president Thursday, completing an unlikely rise that has upended the political landscape and set the stage for a bitter fall campaign.

Trump was …

May 26, 2016 - 12:36 pm Closing Bell Story‎, Politics & Opinions