China is world's largest oil importer, US is largest producer. China announced plans for retaliatory import tariffs on U.S. goods on Friday, sinking U.S. oil prices and putting them on a path toward the year's lows near $50 a barrel. China will take retaliatory measures on the U.S., specifically on crude oil, Jace Jarboe, a futures and options broker with Daniels Trading in Chicago, told MarketWatch.
Oil prices fell Friday after China said it would impose tariffs on $75 billion worth of additional U.S. products including crude imports and President Trump said he would respond, the latest trade developments that investors fear could crimp fuel consumption. U.S. crude futures fell 3.1% to $53.63 a barrel on the New York Mercantile Exchange following the announcement, the newest salvo in the U.S.-China trade spat that has swung markets in recent months. Oil is about 19% below...
Oil prices fell more than 2% on Friday after China unveiled retaliatory tariffs against about $75 billion worth of U.S. goods, marking another escalation of a protracted trade dispute between the world's two largest economies. Brent crude futures fell $1.25, or 2.1% to $58.67 a barrel by 1:15 p.m.. U.S. West Texas Intermediate crude futures fell $1.85, or 3.3%, to $53.50 a barrel.
Oil prices fell Friday after China said it would impose tariffs on $75 billion worth of additional U.S. products including crude imports, the latest protectionist trade policy that could crimp fuel consumption. U.S. crude futures fell 2.1% to $54.18 a barrel on the New York Mercantile Exchange following the announcement, the newest salvo in the U.S.-China trade spat that has swung markets in recent months. Oil is about 18% below its April peak with analysts wary that softening...
Oil prices fell Friday after China said it would impose tariffs on $75 billion worth of additional U.S. products including crude imports, the latest protectionist trade policy that could crimp fuel consumption. U.S. crude futures fell 2.3% to $54.07 a barrel on the New York Mercantile Exchange following the announcement, the newest salvo in the U.S.-China trade spat that has swung markets in recent months. Oil is about 18% below its April peak with analysts wary that softening...
* Trump presses U.S. companies to close China operations. * China unveils retaliatory tariffs on U.S. goods. * Powell says Fed will "act as appropriate" * U.S. oil rig count at Jan 2018 low -Baker Hughes. By Stephanie Kelly.
* Chinese demand for petrochemicals dwindles in face of trade war. * Wave of new petrochemicals capacity also drags on profits. * Polyethylene overcapacity to hit 3 mln T in 2020 -Woodmac. * Makers looking to fresh markets such as Southeast Asia. By Seng Li Peng and Jane Chung.
News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.
PDF’s require Adobe® Reader® and will open in a new window.
