Post Tagged with: "trade"

REUTERS/Christian Hartmann/File Photo

Oil eases on concerns over U.S.-China talks, weak economic data

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 …

October 8, 2019 - 10:35 am China, Closing Bell Story‎, Economy, International
Oil Futures Extend Gains on Larger-Than-Expected U.S. Crude Draw

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

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

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

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 …

Trump Calls on U.S. Firms to Exit China as Trade War Escalates

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 …

Trade War Impasse Casts a ‘Dark Cloud’ Over Outlook for US Oil Shipments, Analysts Warn

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 Soars Near 5% as U.S. Delays Tariffs on Some Chinese Goods

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 …

OPEC keeps curbs - Saudi Arabia Minister of Energy Khalid Al-Falih - Oil & Gas 360

Saudis to Limit Oil Exports in September to Stabilize Market

From The Houston Chronicle


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 …

Oil Rises More Than 2% on Firm Yuan, Expectations of More OPEC Cuts

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

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 …

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 …

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

Millions of Barrels of Iranian Oil Are Piled Up in China’s Ports

Millions of Barrels of Iranian Oil Are Piled Up in China’s Ports

From Bloomberg


Iran-owned tankers continue to haul shipments to bonded tanks, oil held by Iran’s state-owned producer and Chinese companies

Tankers are offloading millions of barrels of Iranian oil into storage tanks at Chinese ports, creating a hoard of crude …

U.S. Says Trade Talks Resuming as China Demands End to Tariffs

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 …

Mexico Becomes First Country to Approve USMCA

Mexico Becomes First Country to Approve USMCA

From the Washington Examiner

Mexico’s Senate voted overwhelmingly in favor of approving the U.S.-Mexico-Canada Agreement on trade, a deal that would replace the North American Free Trade Agreement.

The measure passed with a 114-4 vote, bringing the agreement one …

June 20, 2019 - 6:53 am Closing Bell Story‎, Mexico, Trade
Mexican Tariffs Could Smack U.S. Refiners, Add to Fuel Costs

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 …

June 3, 2019 - 2:44 pm Closing Bell Story‎, Downstream, Energy News, Trade
U.S. Warns Hong Kong to Avoid Tanker in Breach of Iran Sanctions | Hong Kong Rejects Warning

U.S. Warns Hong Kong to Avoid Tanker in Breach of Iran Sanctions | Hong Kong Rejects Warning

From Bloomberg


Pacific Bravo en route Hong Kong, senior U.S. official says accepting the ship would expose city to sanctions

The U.S. warned Hong Kong that it could face penalties if it does business with an oil tanker headed for …

May 29, 2019 - 6:35 am China, Closing Bell Story‎, Energy News, Trade
Oil Trims Loss as Key U.S. Midwest Pipeline Seen Nearing Restart

Oil Trims Loss as Key U.S. Midwest Pipeline Seen Nearing Restart

From Bloomberg


Ozark pipeline out of Cushing storage hub was shut last week, futures still down on talk of China rare-earths restrictions

Oil pared losses after hitting the lowest level since March as a pipeline that drains crude from the …

U.S. Proposes Tariffs on Nations with Undervalued Currencies

U.S. Proposes Tariffs on Nations with Undervalued Currencies

From AJOT/Bloomberg

The Trump administration is proposing tariffs on goods from countries found to have undervalued currencies, in a move that would further escalate its assault on global trading rules.

The proposal, laid out in a Federal Register notice released …

May 28, 2019 - 5:18 pm Closing Bell Story‎, Energy News, Trade
Iran Abandons Parts of Nuke Deal

Iran Abandons Parts of Nuke Deal

Iran abandons parts of nuclear deal amid heightened Mideast tensions

Manufacturers are Leaving China for Lower Wages in India, Vietnam

Manufacturers are Leaving China for Lower Wages in India, Vietnam

From FreightWaves

Apple’s (AAPL: NASDAQ) manufacturing partner Foxconn Technology Group (FXCNY: OTC US), which assembles Apple’s iPhone product in China, announced on Saturday that it has raised over $213 million for what it described as a “mega-development” in India. …

January 29, 2019 - 7:51 am China, Closing Bell Story‎, Energy News, Trade, Transportation
U.S., China Reach Truce on Trade, But Face Thorny Obstacles to Lasting Peace

U.S., China Reach Truce on Trade, But Face Thorny Obstacles to Lasting Peace

From The Wall Street Journal

The trade truce between the U.S. and China calms their economic battle and opens a brief window for the two nations to explore whether they can bridge deep divides on a range of difficult disputes.…

December 3, 2018 - 12:25 pm China, Closing Bell Story‎, Energy News
Trade Deficits Grows in U.S., Canada

Trade Deficits Grows in U.S., Canada

U.S. trade deficit grows by $6.5 billion

The U.S. trade deficit increased by $6.5 billion to $48.3 billion in August from July, according to the U.S. Census Bureau. August exports were $185.1 billion, $3.7 billion less than July, and …

October 7, 2015 - 9:15 am Oil and Gas 360 Articles
Rosneft HQ with Kremlin in the background Source: Rosneft

Improving U.S. and Russian Relations

Russian ambassador in Denver to increase understanding between the U.S. and Russia

At a private event in Denver on Tuesday, Sergey Kislyak, Russia’s ambassador to the United States, expressed his hopes that tensions that have existed between the U.S. …

OPEC: Too Close to Call - Oil & Gas 360

OPEC Update: Saudi Strikes Yemen Rebels, Oil Major Fined for Circumventing Sanctions

Conflict near Sea Trade Chokepoint, Schlumberger Fined $232 Million

Prices of West Texas Intermediate (WTI) climbed above $50 for the first time in two weeks after multiple outlets reported conflict in the Middle East. Saudi Arabia has engaged in airstrikes …

March 27, 2015 - 11:29 am International, Oil and Gas 360 Articles, OPEC