(Investing)– China’s President Xi Jinping met with Canada’s Prime Minister Mark Carney on Friday, with the leaders vowing to advance bilateral relations and Carney accepting Xi’s invitation to visit China. They held a summit on the sidelines of the Asia-Pacific Economic Cooperation (APEC) forum in Gyeongju, South Korea, part of Carney’s tour of Asia in an effort to deepen trade
(Oil Price)– The supertanker freight futures surged on Thursday and Friday after the U.S. sanctions against Russia’s biggest oil firms created a rush to replace Russian barrels. The front-month supertanker contracts on the route Middle East to China, the benchmark route, jumped by 16% on Thursday, to the highest level in nearly two years, according to data from the Baltic
(Investing.com)– Oil prices steadied on Tuesday on easing concerns about an oversupplied market and the trade dispute between the U.S. and China, the world’s top two oil consumers. Brent crude futures were up 7 cents, or 0.11%, at $61.08 a barrel at 1320 GMT. The U.S. West Texas Intermediate crude (WTI) contract for November delivery, set to expire on Tuesday, was
(Oil Price)– Oil prices wiped out earlier gains to dip by more than 2% in early U.S. trade on Tuesday amid renewed concerns that the trade war between the United States and China could slow global economy. As of 9:21 a.m. EDT on Tuesday, the U.S. benchmark, WTI Crude, fell to the $58 per barrel threshold, down by 2.07% on the
(Oil Price)– The prospect of a contango is casting a shadow over oil markets, with the entire 2026 WTI futures curve now trading below $60 per barrel—beneath breakeven levels for most new shale wells. TotalEnergies CEO Patrick Pouyanné and Vitol’s Russel Hardy warn that prices this low could cut U.S. shale output by 200,000 to 300,000 barrels per day next
(BOE Report)– Three years after Russian President Vladimir Putin launched his full-scale invasion of Ukraine, the United States and European Union still import billions of euros worth of Russian energy and commodities, ranging from liquefied natural gas to enriched uranium. India this week lashed out at what it called Western double standards, after facing renewed threats from U.S. President Donald
Oil Price Transitioning hydrogen from its current deployment – produced from hydrocarbons for local industrial use – into a global green commodity is a huge task. The few projects now reaching FID usually involve unique two-party agreements or guaranteed offtake within development consortiums. The lack of globally accepted standards, and the price risk of long-term contracts, remain major hurdles holding
Yahoo Finance NEW YORK – Oil prices rose on Tuesday, rebounding from an early fall of more than $1 a barrel on lift from a weaker dollar and supply concerns highlighted by Saudi Arabia’s energy minister. Benchmark Brent crude futures rose by 44 cents to $93.70 a barrel by 11:03 a.m. EDT, while U.S. West Texas Intermediate crude futures
MarineLink According to BIMCO, 40% of Phase One goal reached for US manufactured goods to China Exports from the US to China of the manufactured goods included in the Phase One agreement between the two countries reached $31.1 billion in the first nine months of the year. This is just 40% of the $78.4 billion commitment under the agreement. “BIMCO
Source: Reuters: Oil prices slid on Tuesday as Washington’s blacklisting of more Chinese companies dampened hopes for a trade deal between the two countries, though unrest in Iraq and Ecuador lent some support to crude prices. Both Brent crude LCOc1 and West Texas Intermediate (WTI) CLc1 crude had risen by more than 1% earlier in the day, but by 10:59
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 up 81 cents, or 1.4%, at $59.51 a barrel. U.S. West Texas Intermediate crude CLc1 ended $1.29, or 2.4%, higher
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 crude oil. The largest refiner in Asia is expected to receive four supertankers carrying 8 million barrels of U.S. crude
