Trump Jacks Up Tariffs on Chinese Imports in Latest Trade Tit-for-Tat

WASHINGTON, Aug 23 (Reuters) - President Donald Trump said on Friday the United States would subject Chinese imports to an additional 5% tariff in response to what he called a politically motivated move by China to impose tariffs on $75 billion worth of U.S. exports. "Sadly, past Administrations have allowed China to get so far ahead of Fair and Balanced Trade that it has … [Read more...]

China Tariffs on U.S. Oil to Pressure Exports, Gulf Coast Prices

HOUSTON, Aug 23 (Reuters) - China's threat on Friday to slap a 5% tariff on U.S. oil imports could further soften demand for physical crude at hubs along the U.S. Gulf Coast, where exporters already have taken to shipping crude overseas without firm buyers, traders said. PADD 3 inventories last week rose to the highest in a month, at 225.1 million barrels, and were 12.4 … [Read more...]

Iranian Tanker Wanted By United States Not Heading to Greece

PARIS, Aug 22 (Reuters) - An Iranian tanker which the United States wants seized is not heading towards Greece as it sails through the Mediterranean, Greek Prime Minister Kyrikos Mitsotakis told France 24 TV on Thursday. The Adrian Darya, formerly called Grace 1, left Gibraltar on Sunday. Ship-tracking data on Tuesday showed it was heading toward the Greek port of Kalamata … [Read more...]

Region-Wide Gulf of Mexico Lease Sale Draws $159.4 Million in High Bids

By Jessica Resnick-Ault and Nichola Groom NEW YORK, Aug 20 (Reuters) - A major auction of oil and gas leases in the U.S. Gulf of Mexico on Wednesday received $159.4 million in high bids, government officials said. Combined with a March auction that drew $244.3 million in high bids, the total was the highest annual bid level since 2015, officials from the Bureau of Ocean … [Read more...]

Iran Says Major Waterways Won’t Be as Safe of Oil Exports Cut to Zero

GENEVA, Aug 21 (Reuters) - If Iran's oil exports are cut to zero, international waterways will not have the same security as before, its president said on Wednesday, cautioning Washington against raising pressure on Tehran in an angry confrontation between the longtime foes. The comment by President Hassan Rouhani coincided with a remark by Iranian Foreign Minister Mohammad … [Read more...]