From CNBC Crude futures have turned a 45% price rally in the first four months of 2019 into a fall of more than 15% since the start of April. “Now we are starting to see that confidence in demand is taking over and that is the main driving factor behind the current state of the oil market,” Neil Atkinson, head of
Morgan Stanley sees the two countries reaching a pact in 2019 LNG may cut U.S.-China trade deficit by $17 billion: bank Here’s another reason for Presidents Donald Trump and Xi Jinping to seal a swift trade deal: it could put the U.S. on track to become China’s biggest supplier of liquefied natural gas, according to Morgan Stanley. A pact this
From Bloomberg News Data on China’s economy are pointing to risk of weaker growth By now, Xi Jinping is used to Donald Trump’s tariff threats. But the U.S. president’s latest ultimatum is personal, and the Chinese leader’s response could have far-reaching consequences for his political future. Trump on Monday said he could impose tariffs “much higher than 25%” on $300 billion
The Treasury Department placed a notice yesterday on its website announcing that the U.S. is restricting any U.S. firm from exporting diluents to Venezuela. Diluents are used to help enable Venezuela’s heavy oil to flow. The restrictions put international companies on notice of doing any diluent business with PDVSA, the Venezuelan national oil company. From the U.S. Treasury Department –
Partnership may lead to establishment of new blends, benchmarks, pricing: Rosneft CEO Sechin With both countries dealing with sanctions or tariffs, cooperation feels like the way to go Asia-Pacific region already the biggest consumer and net importer of hydrocarbons, just need a steady supplier Russia-China cooperation can become a significant force to stabilize energy markets: Sechin From S&P Global/Platts
From The Hill Vice President Pence on Wednesday will meet with top Mexican officials who are seeking to persuade the Trump administration to abandon plans to impose sweeping tariffs that leaders on both sides of the border warn could damage the continent’s economy. Frustrated by increasing levels of illegal migration, an issue he pledged to address during the 2016 campaign,
By Tyler Losier, Energy Reporter, Oil & Gas 360 Natural gas consumption is on the rise in the kingdom Saudi Arabia burns more crude oil for the purposes of power generation than any other nation in the world, tripling the consumption of Iraq between 2015 and 2017, who at the time was the second highest country on the list. Recently,
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 the world’s biggest buyer of U.S. energy products. Mexico sends 600,000 to 700,000 barrels of oil to the United States
From Bloomberg St. Louis Fed chief says trade war poses risk to U.S. economy, Bullard says yield curve may signal Fed policy is too tight The Federal Reserve may need to cut interest rates soon to prop up inflation and counter downside economic risks from an escalating trade war, St. Louis Fed President James Bullard said. “A downward policy rate
From the Houston Chronicle Rapidly growing energy exports helped the Port of Laredo to overtake the Port of Los Angeles as the number one trade hub in the United States. Booming energy exports and shifting patterns in international commerce have made the Port of Laredo the nation’s top center for trade, supplanting the longtime leader, the Port of Los Angeles.
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 the city that allegedly violated sanctions on Iran. Washington wants to put China and the autonomous city on notice that
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 key Cushing, Oklahoma, supply hub was said to be ready to restart Thursday. Futures closed the trading session down 0.6%
