(Investing)– Mexico’s sweeping new tariffs on imports from mostly Asian countries are set to take effect on Thursday, in a move that will largely align Mexico with the U.S. as the neighboring countries place significant barriers on Chinese imports. Approved by Congress in early December, the measure raises tariffs – most up to 35% – on countries without free trade
(Investing)– India’s oil imports from Russia are expected to drop to 800,000 barrels per day in December, down from 1.9 million barrels per day in November, according to a Bloomberg report on Monday. The significant reduction comes as Indian authorities have implemented tighter checks at ports and increased banking scrutiny to ensure compliance with Western sanctions on Russian oil. These
(Investing)– Oil prices settled marginally lower on Monday as OPEC’s plans to increase oil output once again outweighed hopes of a trade deal framework between the U.S. and China and renewed U.S. sanctions on Russia. Brent crude futures were down about 32 cents, or nearly 0.5%, at $65.62 a barrel, while U.S. West Texas Intermediate crude futures closed 19 cents or 0.3% lower
(Oil Price)– Oil prices skyrocketed in early Asian trading on Thursday after President Trump announced new sanctions on Russia’s two largest oil producers, Lukoil and Rosneft, marking the first Ukraine-related sanctions of his second term. Brent crude futures jumped 5.53% to $66.05 per barrel, while WTI crude futures surged 6.05% to $62.04 per barrel, as traders weighed the immediate threat to Russian supply.
(Oil Price)– Reliance Industries, the top private refiner in India, has accelerated crude oil purchases from the Middle East, traders told Bloomberg on Tuesday, as the fate of Russian barrels going to India remains unclear. Reliance, which typically buys crude from the Middle East, has been more active than usual in procuring oil from the Gulf region in recent weeks. The refiner
(World Oil)– India’s Finance Minister Nirmala Sitharaman said the country will continue buying Russian oil, signaling its intent to defy U.S. President Donald Trump’s persistent demands to halt the purchases. U.S. President Trump has imposed 50% tariffs on India in retaliation for Russian oil purchases “Where we buy our oil from, especially a big-ticket foreign exchange item where we pay
(Investing) – Oil prices edged lower on Wednesday on a rise in U.S. crude stockpiles and easing concern over Libyan supply, with U.S. tariffs on Canadian and Mexican imports also in focus. Brent crude futures were down 44 cents, or 0.57%, at $77.05 a barrel by 1400 GMT. U.S. crude futures fell 41 cents, or 0.56%, to $73.36. The White House said on Tuesday
