- Oil climbs on renewed trade optimism
- Crude prices rose as markets turned their attention to upcoming US-China trade talks
- Gains were driven by cautious optimism surrounding negotiations set to begin Saturday
- President Trump proposed an 80% tariff on Chinese goods ahead of the talks, pressing Beijing to expand market access for US exports
- US and Chinese officials are scheduled to meet this weekend in Switzerland, marking the first official attempt to ease a trade conflict that has seen tariffs as high as 145% from Washington and 125% from Beijing
- Trump announced a new trade framework with the UK on Thursday, touting it as a historic breakthrough though short of a comprehensive agreement
- The framework boosts US export access and expedites customs procedures, while the UK receives limited relief on auto, steel, and aluminum tariffs
- The deal drew mixed reactions, with investors cautiously optimistic but noting that key concerns for US businesses remain unresolved
- UK targets Russian oil network with new sanctions (Bloomberg)
- The UK has imposed sanctions on senior executives involved in a trading network that has helped keep Russian oil exports moving
- Officials are also preparing to sanction up to 100 tankers linked to Russia’s shadow fleet used to bypass international restrictions
- However, vessel-tracking data shows that 39 of 41 ships previously sanctioned by the UK alone have continued to transport Russian oil
 |
|
|
|
|
Looking for interest rate charts? We moved them here |
