China buys American oil again

7 February, 2019

The first U.S. oil shipments to China in months will reach their destinations just days from now, punctuating a pledge by President Donald Trump in December that China would begin buying more American products despite an ongoing trade battle. The shipments, which left ports in Texas in late December, are not a clear sign of U.S. victory, however. They are among a handful bound for China or points near it currently as a March negotiating deadline on a new trade deal draws near. And the amount of U.S. oil being shipped to China is well below what it was a year ago, when the trade war erupted.

The U.S. sent the equivalent of 500,000 barrels per day to China in 20 shipments during the months of February, March and April, according to data from Genscape, the world’s largest vessel monitoring company. There was only one shipment from the U.S. to China last fall before the two that left in December. Those final two held an average shipment equivalent to 100,000 barrels a day, about one-fifth the size of the spring peak.

Two ships, The Manifa and The Jag Lakshya, are estimated to arrive in China in the middle of February. Genscape can track their movement across the ocean using marine radar technology that shippers use to avoid running into each other on the open water. The journey from Texas to Asia takes about a month and a half, and ships often mark their destination as Singapore when they are really only refueling there before traveling another five days to China.


Source link  
US raises oil prices by imposing sanctions

US oil prices inched up on Tuesday, buoyed by expectations of tightening global supply amid U.S. sanctions on Venezuela and production cuts led...

Trump's tax reform worth $1.5 trillion

One year after one of the biggest tax overhauls in American history, a survey released on Monday has revealed that the tax cut has not brought about...

Equity market causes investors confusion

As a turbulent December in equity markets draws to a close, there's one thing traders and investors can agree on: these are not usual times, especially...


Global debt exceeded $ 184 trillion

According to the International Monetary Fund (IMF), the global debt has achieved $184 trillion with $86,000 per person, a figure that is twice larger than...

Why U.S. markets are under pressure

Global markets are on the rise on Wednesday, adding more than 1.2% on the MSCI Asia ex Japan index. Japanese Nikkei jumped by 2%. Chinese...

Dow recovers after 500 points decline

Stocks closed higher Monday as major indexes bounced back from earlier losses as renewed confidence in the strength of the U.S. economy offset lingering...


Pound rallied, stocks declined

The U.K. main stock index closed lower Thursday, weighed down by weakness for resource stocks and banks and a strong pound as the outline of a key agreement...

Oil slips as U.S. inventories swelled

Oil prices slipped on Thursday after U.S. crude inventories swelled to their highest level since December 2017 amid concerns of an emerging global glut, although...

Crude's Collapse Is Sending Shockwaves

Investors have gone from contemplating the prospect of oil at $100 to sub-$50 in less than two months. No wonder global markets are playing catch-up....


In the past 24 hours Bitcoin has gained 1.14% and reached $3680.60143312. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -0.5573% and is now at $1.1277. Start trading and making money on Forex today.

In the past 7 days Ethereum has gained 9.38% and is now at $129.093602431. Have the most popular cryptocurrencies compared online 24/7.


Top Brokers offering Daily Forex Market Reviews


Forex Currencies Forecasts


Top 10 Forex Brokers 2019

# Broker Review
1easyMarketseasyMarkets92%
2FXTMFXTM88%
3HYCMHYCM87%
4FxProFxPro85%
5FIBO GroupFIBO Group84%
6OctaFXOctaFX83%
7HotForexHotForex82%
8FXCMFXCM79%
9XMXM73%
10FP MarketsFP Markets70%
  


Share: