Crude oil had a great start to the year 2018. The commodity touched $80 per barrel for the first time in almost four years on the back of Organization of Petroleum Exporting Countries’ decision to extend the oil production quotas until end of 2018. Oil companies, such as Chevron (NYSE: CVX), benefited as prices rose.
TOKYO (Reuters) - Oil prices extended losses on Tuesday as attention shifted to the risk of oversupply, with market participants shrugging off escalating tensions between the United States and Iran.
Trade tensions threaten global growth as the engines of leading economies fall out of sync, the world’s top finance chiefs warned on Sunday.
SYDNEY (Reuters) - The dollar declined on Monday against major currencies to its lowest in more than two weeks after U.S. President Donald Trump criticized the Federal Reserve’s tightening policy, while stocks slipped on fears of further trade protectionist measures.
TOKYO (Reuters) - Oil prices were mixed on Monday as finance ministers and central bank governors from the G20 warned that risks to global growth have increased with rising trade and geopolitical tensions among other vulnerabilities.
In the on-going trade “war” between China and the US, the Office of the US Trade Representative has stated that almost all tyres imported from China, as well as quite a few rubber products, polymers and other raw materials important that are vital for the rubber industry, will be subjected to a 10% tariff as proposed by the current US administration.