President Trump extended the trade talks with China, citing “substantial progress,” which will defuse one of the largest downside risks to the oil market, at least for a while longer.
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China won’t renew harsh restrictions on coal and steel production capacity originally targeted at cut air pollution, as the country’s trade war with the US has begun to affect growth.
Read MoreThe European Commission’s president Jean-Claude Juncker held talks with the United States president Donald Trump during a visit to the White House.
Read MoreBloomberg are reporting that the booming market for LNG can weather an escalating US-China trade war. But the risks are mounting.
Read More(Reuters) – Oil prices surged more than 3 percent on Tuesday as investors grew more confident the United States and China would resolve their trade dispute without damaging the global economy, while Middle East tensions and a weak dollar also supported prices.
Read MoreU.S. West Texas Intermediate crude oil futures are in a position to close lower for the week. Some of the selling pressure was generated by a confirmation of last week’s dramatic technical closing price reversal top.
Read MoreCrude oil prices sank after each round of tariffs, and while there are real concerns about the ripple effects on demand and global economic growth, it is unclear whether or not the oil and gas relationship will be directly targeted in a major way.
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