United States and Chinese trade relations appear to have hit a new low after White House trade adviser Peter Navarro said that the trade deal was “over” on Fox News last night. Navarro later walked back his comments and said that his comments were taken out of context and, “was simply speaking to the lack […]
Read More
This morning, WTI crude oil prices traded as low as $52.13/barrel, the lowest level since October of last year. With threats of the Coronavirus spreading, travel and trade have become a factor in this sell off. With the fear of the disease spreading until there is a vaccine, traders forecast travel will be subdued, meaning […]
Read More
As the end of this week winds down and people prepare for the holidays next week, light liquidity will most likely be the name of the game in our energy markets. Light liquidity means trading volume is lower than normal which is to be expected during this time of year. Therefore, the bid/ask spreads are […]
Read More
The volatility of the China-United States trade war may finally be slowing down. Only a few days after agreeing to phase one of a new trade deal, China has announced a one-year tariff exemption on six chemical and oil derivatives, a positive sign that tensions are easing, and progress is being made. These exemptions become […]
Read More
President Trump stated Thursday night that the United States would begin a series of escalating tariffs on all Mexican imports beginning June 10th, unless Mexico and United States lawmakers take immediate steps to stop the flow of illegal immigration into the United States. The tariffs on imports would start at 5% in June and increase […]
Read More
The oil market is mixed this morning as it continues to look for direction and weighs the same news items of the past few months. Those issues continue to be OPEC cuts, U.S. / China trade dispute, concern over a global economic slowdown and increasing U.S. crude production.
Read MoreThe U.S. and China conclude their two-day trade talks in Beijing today with President Trump tweeting this morning “Talks with China are going very well!” This tweet and word that China had their top trade official, Liu He, attend the talks early this week have boosted equity and oil markets along with it as February […]
Read More
Oil prices rose by more than 1 percent on Monday, lifted by optimism that talks could soon resolve the trade war between the United States and China, while supply cuts by major producers also supported the market.
Read More
Yesterday, the United States and Mexico settled on new concessions that will make changes to the current North American Free Trade Agreement (NAFTA). The hope is to improve upon the U.S. $69-billion trade deficit with Mexico.
Read More
On Saturday OPEC and non-OPEC producers agreed to raise production by 1 million barrels per day (bpd). Perhaps more important than that, they agreed to return to 100% compliance of the previously agreed upon production cuts of 1.8 million bpd. Production was lagging from struggling countries, i.e., Venezuela, Angola and Libya which effectively equated to […]
Read More
