Post Tagged with: "President 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 …

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 …

Opinion: Oil is Probably the Reason We Won’t Go to War With Iran

Opinion: Oil is Probably the Reason We Won’t Go to War With Iran

From CNBC


Many cynics have long contended that the real reason the U.S. entered a slew of recent wars was only to protect American oil interests. But now it’s beginning to look like oil may be a major reason why …

U.S. Sanctions China’s State-Run Oil Company for Buying from Iran

U.S. Sanctions China’s State-Run Oil Company for Buying from Iran

By Tyler Losier, Energy Reporter, Oil & Gas 360

Secretary of State Mike Pompeo announces sanctions for Zhuhai Zhenrong and its chief executive
The United States government will be imposing sanctions on Zhuhai Zhenrong Company Limited, a state-run oil company

Iran Seizes Two More Tankers as Strait of Hormuz Tension Escalates

Iran Seizes Two More Tankers as Strait of Hormuz Tension Escalates

By Tyler Losier, Energy Reporter, Oil & Gas 360

British and Liberian-flagged vessels seized by Iran, who President Trump calls “nothing but trouble”
Iran has seized two oil tankers – one British-flagged and one Liberian-flagged – in the Strait of