Trade dispute – Oil & Gas 360

Trade dispute could force U.S. to buy Venezuelan oil, Canada says

January 31, 2025

(Oil Price) – President Trump’s threat of tariffs on Canadian imports could leave the United States reliant on crude oil from Venezuela, with which the U.S. doesn’t want to work, Canadian Foreign Minister Melanie Joly told the Financial Times. Joly is visiting this week Washington, D.C. for her first official meeting with U.S. Secretary of State Marco Rubio and other U.S. government leaders. The

WTO fails on dispute reforms before Trump takes office, US ambassador says

December 18, 2024

(Investing) – WASHINGTON – World Trade Organization members failed to agree on reforms to revive a broken trade dispute settlement system during the last General Council meeting before U.S. President-elect Donald Trump takes office in January, outgoing U.S. WTO ambassador Maria Pagan said on Wednesday. Pagan also told reporters in a briefing that the meeting on Monday and Tuesday in Geneva

Oil Futures Extend Gains on Larger-Than-Expected U.S. Crude Draw

August 27, 2019

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

Caught in Tariff War, Sinopec Seeks Waiver for Imported U.S. Oil: Sources

August 26, 2019

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

Oil prices fall on fading storm impact, Chinese economic data - Oil&Gas360

Oil Falls 1% as U.S.-Iran Optimism Faces U.S.-China Trade Deal Hopes

August 26, 2019

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.

Oil Spills Into U.S.-China Trade War, Prices Slump

August 23, 2019

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 oil demand. Beijing said crude would be among the U.S. products hit by tariffs of 5% as of Sept. 1.

Oryx Midstream Lands $550 Million from Qatar Investment Authority - Oil & Gas 360

Qatar May be Losing the Top Spot as World’s Biggest LNG Exporter

August 23, 2019

From CNBC Qatar will lose its title as the world’s largest exporter of liquefied natural gas (LNG) within the next year, as Australia ramps up production on a slew of multi-billion dollar export projects. “Australia and Qatar continued to jostle for the title of the world’s largest LNG exporter over the first five months of 2019,” the Australian government said

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

August 23, 2019

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 accused China of unfair trade practices and pushed for a deal that would rebalance the relationship in favor of U.S.

Oil Eases as Fed’s Jackson Hole Meeting Gets Underway

August 22, 2019

From Reuters Oil prices weakened on Thursday on worries about the global economy and as equity markets were on edge over the uncertain outlook for U.S. interest rate cuts. Traders are awaiting a speech from Federal Reserve Chair Jerome Powell on Friday in Jackson Hole, Wyoming, that could indicate whether the U.S. central bank will continue to cut interest rates.

Oil Steadies as Hopes of Easing Trade Tensions Lend Support

August 20, 2019

From Reuters Oil prices steadied on Tuesday on optimism U.S.-China trade tensions will ease and hopes major economies will take stimulus measures to ward off a possible economic slowdown, after falling earlier on concerns over future demand. Brent crude LCOc1 settled 29 cents, or 0.5%, higher at $60.03 a barrel, while U.S. crude CLc1 rose 13 cents to $56.34 a

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

August 19, 2019

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 between Washington and Beijing prompted some external observers to warn the outlook for China-bound U.S. crude shipments was firmly skewed

Oil Rises 2% After Attack on Saudi Field, Stimulus Expectations

August 19, 2019

From Reuters Oil prices gained roughly 2% on Monday after a weekend attack on a Saudi oil facility by Yemen’s Houthi forces threatened crude supplies and as traders looked for signs that top economies would take measures to counteract a global slowdown. Brent crude LCOc1, the international benchmark for oil prices, settled at $59.74 a barrel, rising $1.10, or 1.88%.

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