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Oil Prices Fall Into Negative Territory As Trump Announces New Tariffs

swamyworld1 year ago05 mins

[ad_1] Washington: Oil prices fell to negative territory after rising by a dollar in post-settlement trade on Wednesday as U.S. President Donald Trump announced reciprocal tariffs on trading partners, stoking concerns that a global trade war may dampen demand for crude. Brent futures settled 46 cents higher, or 0.6%, at $74.95 a barrel, while U.S….

US Sanctions China-Based Refinery That Purchased Oil From Houthi-Linked Ships

swamyworld1 year ago03 mins

[ad_1] Washington: The United States on Thursday sanctioned a China-based oil refinery that purchased Iranian oil worth around $500 million from Huthi-linked ships, as the White House ramps up pressure on Iran. In a statement, the US Treasury Department announced it was sanctioning a “teapot refinery” based in China’s Shandong province which bought Iranian oil…