US-China trade war doesn’t change the bull case for oil, Goldman’s commodity chief says

The chief commodity researcher at Goldman Sachs says the bull case for oil remains in tact despite an escalating trade dispute between the world’s two biggest economies that has stoked fears of weakening demand for crude. U.S. crude settled at a seven-week low below $67 a barrel on Thursday. It is now on pace for
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More Canadian soybeans are finding their way into the Chinese market as US origin soybeans become uncompetitive after the 25% import duty was imposed from July 2018. About ten vessels of soybeans have been sold to China, on a CFR basis, in August at prices ranging from 270 to 280 cents/bushel over November CBOT Futures
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The U.S. in the next five years will become an energy exporting powerhouse — rivaling Saudi Arabia in oil exports and growing into one of the world’s largest gas exporters, regardless of its trade spat with China, analysts said. China slapped tariffs on a range of oil products, liquid petroleum gas and coal, as well
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WASHINGTON: The Trump administration recently announced that it will go ahead with imposing 25 percent tariffs on an additional $16 billion in Chinese imports. Customs officials will begin collecting the border tax Aug. 23, the Office of the U.S. Trade Representative said. The list is heavy on industrial products such as steam turbines and iron
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NEW DELHI: India should focus on new categories such as machinery, vehicles and transport parts for export to the US where it has a competitive advantage in the US-China trade war, according to a report. The report ‘New Export Opportunities for India in Trade with US and China’ by the Confederation of Indian Industry (CII),
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LONDON: The “sudden decline” in container shipping demand had less to do with prospects of a Sino-American trade war and more to do with oversupply in the Asia-US East Coast market, according to Drewry. “It is tempting to view every service suspension through the prism of the brewing trade war between the US and China,”
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China plans to put more money into infrastructure projects and ease borrowing curbs on local governments to help soften the blow to the economy from the Sino-U.S. trade war, policy sources told Reuters. China’s trade war with the United States has clouded the outlook for the world’s second-largest economy and roiled financial markets. A sharper
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Global economic activity remains solid but has already passed its peak, according to economists in Reuters polls who expect protectionist policies on trade, which show no signs of abating, to tap the brakes significantly. While trade conflict between the United States and other major trading partners, in particular China, has had only a modest impact
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China’s construction steel rebar prices recovered after some losses in early trading on Thursday, extending a three-day winning streak although investors’ worries about demand returned, which may offset expectations that the environmental crackdown in the world’s top steelmaker will tighten supplies. * The most-active rebar on the Shanghai Futures Exchange closed up 0.3 percent at
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As the China-US trade war continues to escalate, collateral damage to Hong Kong – an export-oriented economy with China and the US as its largest trading partners – is inevitable. As the shipping market is closely tied to trade, the trade war may also influence Hong Kong’s logistics and trade industries. In light of such
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