Tuesday, December 24, 2024

Prepare for Steel Tariffs to Squeeze Margins in West Texas, Private Equity Investors Say

Service companies first, then producers From the Houston Chronicle The Trump Administration’s steel tariffs will increase costs in the West Texas oil patch at a time when drillers and service firms already faced rising labor and materials costs, investors say. Labor shortages in the Permian Basin and a lack of available working equipment have led to delays and higher prices

Shanghai Crude Futures Roar into Action, Global Merchants Dominate First Day of Trading

From Reuters BEIJING/SINGAPORE (Reuters) – China’s crude futures kicked off to a roaring start on Monday as western traders and Chinese majors eagerly traded the world’s newest financial oil instrument, which many expect to become a third global price benchmark alongside Brent and WTI crude. Global commodity trader and miner Glencore (GLEN.L), and big merchants Trafigura [TRAFGF.UL], Freepoint Commodities and