From CNBC Crude oil prices could sink by as much as $30 a barrel if China decides to buy Iranian crude oil in retaliation to the latest U.S. tariff measures, according to Bank of America Merrill Lynch. “While we retain our $60 a barrel Brent forecast for next year, we admit that a Chinese decision to reinitiate Iran crude purchases
From Reuters Oil prices gained about 3% on Friday a day after recording their biggest daily drop in several years on U.S. President Donald Trump’s vow to impose more tariffs on Chinese imports. For the week, crude oil benchmarks recorded a loss. Washington’s new tariffs on China, due to take effect on Sept. 1, intensify the trade war between the
From Reuters Oil prices plummeted more than 7% on Thursday, with the U.S. benchmark posting its worst day in more than four years, after President Donald Trump said he would impose additional tariffs Chinese imports starting Sept. 1. The drop in Brent crude was the steepest in more than three years, undoing a fragile oil rally built on steady drawdowns
From Reuters WASHINGTON (Reuters) – A White House trade adviser and a leading Republican senator said on Wednesday that a U.S. plan to impose tariffs on Mexican goods might not go into effect, offering hope for Mexico and American businesses concerned about economic damage from a new front in President Donald Trump’s trade wars. Adviser Peter Navarro told CNN that
Canada’s 30% minimum wage hike, rocketing electricity costs and the U.S. tax cuts to corporations have undercut the former advantage of locating manufacturing plants in Canada From Bloomberg/Toronto Star The brass at Martinrea International Inc. ran the numbers, and they added up to a no-brainer. The new technical centre would be built across the border in Michigan, not in its
Bank Looks for Commodities Prices to Rebound on “Broad Front” by 2017, Examines 2015 OPEC/Saudi Actions Scotiabank Economics released its annual commodities outlook today, saying near term WTI could be US$30, based on post-Dec. 4 OPEC oil trading below US$35 already, “and could drop to US$30 near-term.” Scotiabank reviewed Saudi Arabia’s Fall 2015 actions as “apparently willing to implement a series of output
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