(Investing)– BUSAN, South Korea/BEIJING (Reuters) -U.S. President Donald Trump hailed a meeting with China’s Xi Jinping as “amazing” and “12” on a 10-point scale, but the agreement the two leaders reached appears to be no more than a fragile truce in a trade war with root causes still unresolved. The framework announced on Thursday – that includes China resuming soybean
(Investing) – Oil prices steadied Monday as traders digested potential progress in U.S.-China trade talks, starting to discount the chances of an economically costly trade war between the world’s two largest economies. At 08:25 ET (12:25 GMT), Brent oil futures for December fell 0.1% to $65.14 a barrel and West Texas Intermediate crude futures rose 0.1% to $61.54 a barrel. U.S., China agree to framework
(BOE Report)– Canada’s Prime Minister Mark Carney embarks on his first official visit to Asia on Friday in an attempt to deepen trade and security ties at a time when the North American country is struggling to lessen its overwhelming dependence on the U.S. and redefine its foreign policy in pursuit of new markets. Canadian government officials said Carney’s week-long
(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
(World Oil) – bp Plc is off to a “great start” in its strategy reset and can follow through on the turnaround despite the recent drop in oil prices, said Chief Executive Officer Murray Auchincloss. U.S. President Donald Trump’s trade war has driven Brent crude below $70 a barrel, the price assumption that underpins bp’s plans to boost cash flow and
(Investing) – NEW YORK – Oil prices fell about 2% to a two-week low on Tuesday on expectations OPEC+ will boost output even as U.S. President Donald Trump’s on-again off-again trade tariffs could reduce global economic growth and demand for the fuel. Brent crude futures fell by $1.41, or 2.1%, to $64.45 per barrel by 11:03 a.m. EDT (1503 GMT), while
(World Oil) – OPEC cut forecasts for global oil demand growth slightly this year and next as President Donald Trump’s tariff onslaught takes a toll on consumption, while remaining more bullish than other forecasters. The cartel lowered demand growth projections for 2025 and 2026 by about 100,000 barrels a day (bpd), projecting an expansion of 1.3 million barrels a day
(Oil Price) – The global trade wars intensified on Tuesday as the U.S. tariffs on Canada and Mexico took effect and China was slapped an additional 10% levy, prompting retaliatory tariffs and sending equity markets and oil prices lower. Oil prices were down by 1% in Asian trading early on Tuesday, as markets fear economic slowdown from the tariffs and
(Investing) – LONDON – Oil prices rebounded on Monday despite lingering fears over a potential global trade war after U.S. President Donald Trump’s latest tariff plans, this time targeting steel and aluminium. Brent crude futures were up 87 cents, or 1.2%, at $75.53 a barrel by 1413 GMT. U.S. West Texas Intermediate crude added 1.3%, rising 90 cents to $71.90. Monday’s gains
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
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. Brent crude lost 64 cents, or 1.1%, to settle at $58.70 a barrel, after hitting a session high of $60.17.
