Mike Sommers, the president and CEO of the American Petroleum Institute, has described the phase one trade deal reached between the United States and China as “a positive step forward” but highlighted that “there’s more work to be done”. “We encourage the administration to stay at the negotiating table until the U.S.-China marketplace for energy trade is fully restored and…
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(Bloomberg) -- Oil rose to the most in more than a week as the preliminary trade truce between the U.S. and China fanned optimism about economic growth. Futures rose as much as 1.4% in New York. Under the settlement between the world’s largest economies, China pledged to increase purchases of U.S. commodities. The landmark deal helped fuel a record-setting rally…
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(Bloomberg) -- Oil rebounded after the U.S. and China inked the first phase of their trade deal, recouping losses driven by data showing American petroleum supplies rising to a four-month high. Futures climbed as much as 0.9% in New York after China agreed to buy almost $95 billion of additional American commodities over two years including crude and refined products. That came…
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