Post Tagged with: "Tariffs"
Is it “Too Little, Too Late” in the Oil Patch for President Trump?
The employment impact of President Trumps inaction on immediately placing punitive tariffs on Russian, Saudi and OPEC oil imports has already hit the US oil and gas industry. Granted, these “Price War” employment impacts are a …
Oil stays above $60 on U.S.-China trade accord optimism
Oil edged higher to settle at a three-month high on optimism that a partial trade deal between the world’s two largest economies will spur demand for fuel to power trucks, trains, airplanes and cars.
Futures closed above the …
Factbox: How China tariffs on U.S. commodities, energy stand after ‘phase one’ trade deal
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 …
Oil Futures Extend Gains on Larger-Than-Expected U.S. Crude Draw
From Reuters
Oil prices rose in volatile trade on Tuesday supported by expectations of a drawdown in U.S. crude inventories, though gains were capped by worries about a recession and uncertainty over a China-U.S. trade deal.
Brent crude LCOc1 settled …
Caught in Tariff War, Sinopec Seeks Waiver for Imported U.S. Oil: Sources
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 …
Oil Falls 1% as U.S.-Iran Optimism Faces U.S.-China Trade Deal Hopes
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.…
Oil Spills Into U.S.-China Trade War, Prices Slump
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 …
Qatar May be Losing the Top Spot as World’s Biggest LNG Exporter
From CNBC
Qatar will lose its title as the world’s largest exporter of liquefied natural gas (LNG) within the next year, as Australia ramps up production on a slew of multi-billion dollar export projects.
“Australia and Qatar continued to jostle …
Trump Calls on U.S. Firms to Exit China as Trade War Escalates
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 …
Oil Eases as Fed’s Jackson Hole Meeting Gets Underway
From Reuters
Oil prices weakened on Thursday on worries about the global economy and as equity markets were on edge over the uncertain outlook for U.S. interest rate cuts.
Traders are awaiting a speech from Federal Reserve Chair Jerome Powell …
Oil Steadies as Hopes of Easing Trade Tensions Lend Support
From Reuters
Oil prices steadied on Tuesday on optimism U.S.-China trade tensions will ease and hopes major economies will take stimulus measures to ward off a possible economic slowdown, after falling earlier on concerns over future demand.
Brent crude LCOc1 …
U.S. Oil Firms Challenge Pipeline Surcharge for Steel Tariff: Filing
From Reuters
Two U.S. shale producers have challenged an energy pipeline operator’s proposed surcharge for the Trump administration’s 25% tariff on imported steel, raising the stakes for pipeline builders facing higher construction costs.
The United States imposed tariffs on imported …
Trade War Impasse Casts a ‘Dark Cloud’ Over Outlook for US Oil Shipments, Analysts Warn
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 …
Oil Rises 2% After Attack on Saudi Field, Stimulus Expectations
From Reuters
Oil prices gained roughly 2% on Monday after a weekend attack on a Saudi oil facility by Yemen’s Houthi forces threatened crude supplies and as traders looked for signs that top economies would take measures to counteract a …
Oil Deepens Slide on Recession Fears, China’s Trade Threats
From Reuters
Oil prices fell more than 1% on Thursday, extending the previous session’s 3% drop, pressured by mounting recession concerns and a surprise boost in U.S. crude inventories.
In a sign of investor concern that the world’s biggest economy …
Oil Drops 3% on Weak Global Economic Data, U.S. Crude Stocks Build
From Reuters
Oil prices shed 3% on Wednesday after fresh Chinese and European economic data revived global demand fears and U.S. crude inventories rose unexpectedly for the second week in a row.
Brent crude LCOc1 settled at $59.48 a barrel, …
Oil Soars Near 5% as U.S. Delays Tariffs on Some Chinese Goods
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 …
Saudis to Limit Oil Exports in September to Stabilize Market
Saudi Arabia plans to keep oil exports below 7 million barrels a day next month as OPEC’s biggest producer allocates less crude than customers demand in a bid to stabilize the market, according to the kingdom’s …
China Continued Iran Oil Imports in July in Teeth of U.S. Sanctions: Analysts
From Reuters
China imported Iranian crude oil in July for the second month since a U.S. sanctions waiver ended, according to research from three data firms, with one estimate showing some oil entered tanks holding the country’s strategic reserves.
According …
Oil Rises More Than 2% on Firm Yuan, Expectations of More OPEC Cuts
From Reuters
Oil jumped more than 2% on Thursday on expectations that falling prices could lead to production cuts, coupled with a steadying of the yuan currency after a week of turmoil spurred by an escalation in U.S.-China trade tensions.…
Brent Oil in Bear Market as China-U.S. Trade Tensions Mount
From Reuters
Oil prices fell more than 1% on Tuesday, with Brent crude settling near seven-month lows below $60 a barrel as trade tensions between the U.S. and China intensified worries about weakening global demand.
During the session, Brent traded …
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
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 …
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 …
U.S. Says Trade Talks Resuming as China Demands End to Tariffs
From Bloomberg
Kudlow says Lighthizer, Mnuchin, Liu have been in contact, Beijing says existing duties must be removed to reach a deal
The Trump administration said trade talks with China are starting up again as Beijing reiterated that it’s essential …
U.S. Proposes Tariffs on Another $4 Billion of EU Goods
Boeing-Airbus subsidy dispute heats up
From the AJOT
The U.S. added new products from the European Union to potentially target with retaliatory tariffs in a long-running trans-Atlantic subsidy dispute between Boeing Co. and Airbus SE.
The U.S. Trade Representative’s office …
Mexican Tariffs Could Smack U.S. Refiners, Add to Fuel Costs
From Reuters
HOUSTON (Reuters) – U.S. President Donald Trump’s threats to tax Mexican imports could disrupt a long-standing cross-border energy trade, hitting U.S. consumers and refiners that use Mexican oil by boosting prices, and raising concerns about potential retaliation by …
