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China Unlikely To Slap Retaliatory Tariff On U.S. Crude Oil

OilPrice.com Monday, 5 August 2019 ()
U.S. crude oil is unlikely to become a target of possible Chinese retaliatory tariffs in response to the latest American tariff threat, refinery and trading sources told S&P Global Platts after U.S. President Donald Trump announced 10-percent tariffs on the remaining US$300-billion U.S. imports of Chinese goods. Chinese refiners have not bought much U.S. crude oil over the past year, because of the U.S.-China trade spat and related uncertainties over which goods could be subject to tariffs next. So far, oil has been spared from the tariffs,…
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News video: Oil Crashes As Recession Jitters Skyrocket

Oil Crashes As Recession Jitters Skyrocket 00:35

Business Insider reports a surprise increase in American oil stockpiles ratcheted up fears of a global recession. Futures fell as much as 5.8% to a seven-month low on Wednesday. That pushed oil into bear market territory. Having extra supply dilutes prices, exacerbated by investors' worries that...

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