USA oil price went up on Friday after dropping almost 2 percent in the previous session. -China tit-for-tat on trade.
"As South Korea's economy heavily relies on trade, it won't be good for South Korea if the global economic slowdown happens because of a trade dispute between USA and China", said Lee Dal-seok, senior researcher at the Korea Energy Economic Institute.
Crude oil inventories at Cushing, Oklahoma, the delivery point for USA crude futures, have fallen to their lowest in 3-1/2 years, data showed last week. China's Ministry of Commerce stated that it had no choice but to respond to the United States, which they claim had "launched the largest war in economic history".
Zanganeh added that neither Iranian oil production nor its exports had changed as a result of USA pressure.
Beijing has threatened a 25 percent tariff on USA crude imports, although it has not specified an introduction date. In response to this, members of OPEC reportedly agreed to produce an additional one million barrels of crude oil on a daily basis to keep the prices stable on the market.
In an alarming sign for Washington, and a welcome development for Iran, some locals have decided not to see which way the dice may fall.
China has said it will impose tariffs on 545 USA goods in return.
Delhi gang rape: Verdict on review pleas on Monday July 11: The JJB holds the minor guilty of illegally confining and robbing a carpenter on December 16 night before the gangrape. The accused appealed to the supreme court , which eventually delivered its judgment confirming the death penalty in May 2017 .
China has said it would immediately retaliate with its own tariffs, and U.S. President Trump said on Thursday the United States may ultimately impose tariffs on more than a half-trillion dollars worth of Chinese goods, in what may become a fully blown trade war. He added that his refinery had cancelled US crude imports and would switch to Middle East or West African supplies instead.
"We expect the Chinese government to impose tariffs on (US) crude", the executive said, declining to be named as he was not authorised to speak to media.
"Trump sends every day a new message that creates uncertainty in the oil market", Bijan Zanganeh said in an interview with Iranian broadcaster IRIB. "They (Chinese importers) are not going to be intimidated, or swayed by USA sanctions".
"Iran's exports are some 2.7 million bpd, including condensate", it noted. Together three three nations make up about 60 percent of the Persian Gulf state's exports.
They said zero-tolerance sanctions on Iran - the fourth-largest oil producer - could add $50 per barrel to crude prices, which are up more than 25 per cent this year.
If Beijing also imposes tariffs on USA crude, it could put downward pressure on the price of benchmark U.S. crude, the West Texas Intermediate, and may weaken its spread to Brent oil, the global market standard.
China responded promptly and slapped duties on the same amount of value unto USA products.
The negative impact on China's gross domestic product growth - and Chinese consumer prices - is also expected to be minimal. Trump has threatened to hit back with vehicle tariffs of 20%, which would be highly damaging for the German auto industry.
Small health plans also have far less capital than more established insurers to comfortably make large risk-adjustment payments. The reason? A recent federal court ruling bars distribution of the funds, according to a report by Reuters news.
The accident took place in a residential area near the campus of William and Mary, which warned people to stay away from the area. The aircraft was an R44 helicopter, according to the FAA, which tweeted updates about the crash over the weekend.
Limit the number of places around your home for mosquitoes to breed by either draining or getting rid of items that hold water. Residents should also make sure that their window and door screens are in good fix to prevent mosquitoes from getting inside.
It is with heavy hearts and sober minds that we must report Sacha Baron Cohen is back on his bullshit. The one-two punch of The Ali G Show , followed by his Borat movie, was nothing less than incredible.
According to government records, 127 minors and women were subjected to rape in the first three months of 2018. Worse, according to the SP, the principal called her one day after school and raped her in his chamber.
Wilshere will join West Ham after being on Arsenal's books for 17 years, in what will be a hard jump to make for him. He becomes West Ham's fourth summer signing following the appointment of Manuel Pellegrini.
Duterte explained that even though he believed in one supreme God there were still things that he thought were illogical. He would say, 'Mayor, someone from the church ordered me to go to heaven and speak to God.
Kirk wasted no time in picking up from where she left off previous year , when she won the inaugural edition of the tournament. He is still searching for his first PGA Tour win and will sleep on a 36-hole lead for the first time in his career.
Starbucks is eliminating plastic straws from all stores
Last month, McDonald's announced that it would start testing plastic-straw alternatives at certain US locations later this year. Starbucks said Monday that it is making available a strawless lid at 8,000 stores in the USA and Canada for certain drinks.
Three Lions Is Officially Number 1 In The UK
It seems that England's most successful World Cup campaign in nearly 30 years is sending fans just a little bit insane . The vehicle was left with a completely smashed windscreen and heavy denting to the bonnet, roof and bumper.
What We Learned From Ant-Man and the Wasp
The movie takes place two years after Captain America: Civil War and a few days prior to the events of Avengers: Infinity War . It's the first animated film to ever surpass US$500 million at the North American box office, and the 12th film ever to do so.
Pompeo brushes off North Korean 'gangster' claim
TRT World spoke with Micheal Penn , who brings more from Tokyo on the disagreements between Washington and Pyongyang. Analysts said that North Korea's statement was not unexpected but that there may indeed be a long way to go in U.S.
Hamilton back on top in final practice
The Red Bulls of Max Verstappen and Australia's Daniel Ricciardo were fifth and sixth but well off the pace. Miraculously, the 28-year-old emerged from his destroyed auto , and walked away without significant injury.