By Sheela Tobben (Bloomberg) -- Washington’s escalating trade war with Beijing hasn’t choked off the flow of American oil to China. At least six million barrels of U.S. crude set off for Chinese refineries in May, according to ship tracking data compiled by Bloomberg. In June, American shipments to the Asian nation are expected to reach at least 4 million barrels, according … [Read more...]
Trump’s Mexican Tariffs Could Hit U.S. Refiners Hard
By Collin Eaton HOUSTON, May 31 (Reuters) - U.S. President Donald Trump's threats to tax Mexican imports could disrupt a long-standing cross-border energy trade, hitting U.S. refiners that use Mexican oil by boosting prices, and raising concerns about potential retaliation by the world's biggest buyer of U.S. energy products. Mexico sends 600,000 to 700,000 barrels of oil to … [Read more...]
Strait of Hormuz: The World’s Most Important Oil Artery -FAQ
LONDON, April 23 (Reuters) - Iran has said it would block the Strait of Hormuz if it was barred from using the strategic waterway through which about a fifth of oil that is consumed globally passes. The threat from an Islamic Revolutionary Guards Corps (IRGC) commander followed a U.S. announcement on Monday that it would end exemptions granted last year to eight buyers of … [Read more...]
U.S. Offers Up to 6 Million Barrels of Oil from Strategic Reserve
By Timothy Gardner WASHINGTON, Feb 28 (Reuters) - The U.S. Energy Department said on Thursday it is offering up to six million barrels of sweet crude oil from the national emergency reserve in a sale mandated by a previous law to raise funds to modernize the facility. A law U.S. President Donald Trump signed last year requires the department to hold sales to fund $300 … [Read more...]
Tanker Analysts Shrug Off Market Woes
By Firat Kayakiran (Bloomberg) -- It’s never ideal if you own a fleet of crude tankers and the world’s oil producers remove millions of barrels of cargo from the market to avert a glut. Nor is a collapse in charter rates normally the best news. While both those things happened in the past few months, the people paid to evaluate the shipping industry’s prospects are … [Read more...]