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Oil retreats on stronger dollar, U.S. crude discount wider

June 1, 2018 admin Comments Off on Oil retreats on stronger dollar, U.S. crude discount wider

Oil prices retreated on Friday after the dollar rose on better-than-expected U.S. employment data, which pressured greenback-denominated commodities, including crude. U.S. West Texas Intermediate (WTI) crude (CLc1) futures fell $1.23 a barrel to settle at $65.81 a barrel. Global benchmark Brent (LCOc1) fell 77 cents to $76.79 a barrel. …read more […]

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Exclusive: U.S. may soon claim up to $1.7 billion penalty from China’s ZTE – sources

June 1, 2018 admin Comments Off on Exclusive: U.S. may soon claim up to $1.7 billion penalty from China’s ZTE – sources

(Reuters) – The Trump administration may soon claim as much as $1.7 billion penalty from ZTE Corp , as it looks to punish and tighten control over the Chinese telecommunications company before allowing it back into business, according to people familiar with the matter.

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Trump throws ailing U.S. coal, nuke plants a lifeline, triggers backlash

June 1, 2018 admin Comments Off on Trump throws ailing U.S. coal, nuke plants a lifeline, triggers backlash

The White House billed the effort as a way to shore up national energy security, but the announcement triggered swift backlash from an unusual alliance of drillers, renewable energy producers and environmentalists who called it an unfair attempt to prop up non-competitive industries. “Unfortunately, impending retirements of fuel-secure power facilities are leading to a rapid depletion of a critical part of our nation’s energy mix, and impacting the resilience of our power grid,” White House spokeswoman Sarah Sanders said in a statement about the measure. …read more […]

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U.S. Commerce chief set for China trade talks amid metals tariff rancor

June 1, 2018 admin Comments Off on U.S. Commerce chief set for China trade talks amid metals tariff rancor

U.S. Commerce Secretary Wilbur Ross is proceeding with plans for trade talks in Beijing on Saturday, U.S. officials said, after the Trump administration launched steel and aluminum tariffs on Western allies and renewed its tariff threats against China. Two administration officials familiar with the matter said Ross’ negotiations of specific commitments on Chinese purchases of U.S. agricultural and energy commodities would take place over the weekend despite a report that initial haggling with Beijing this week could delay or cancel it. The purchases are aimed at reducing the $375 billion U.S. trade deficit with China. …read more […]