Stocks Slump, Dollar Soars as Trump Tariffs Trigger Trade War
Oil prices rose, with WTI up 2.4% at $74.27 a barrel and Brent crude futures adding 1% to $76.40 a barrel.
Latest
Trump’s Oil Tariffs a Boost for European and Asian Refiners
Summary • Trump orders 10% tariffs on Canadian oil, 25% tariffs on Mexican crude • U.S. refineries face higher costs for heavier crude grades • U.S. refinery earnings already under pressure (Reuters) – U.S. President Donald Trump’s trade tariffs on Canadian and Mexican oil imports will offer European and Asian refineries a competitive advantage against …
Trump’s Oil Tariffs a Boost for European and Asian Refiners Read More »
Trump Launches Trade War With Tariffs Against Canada, Mexico and China
Summary • Canada and Mexico slapped with 25% duties; China gets 10% above current tariffs • Trump wants action on stanching flow of fentanyl and migrants to the US • Canadian oil will be taxed at 10%, more oil and gas tariffs expected in mid-February • Canada, Mexico vow retaliatory tariffs, China says it will …
Trump Launches Trade War With Tariffs Against Canada, Mexico and China Read More »
Pump Prices Set to Rise as Trump Tariffs Hit Closest Allies, Canadian, Mexican Oil
Summary • Energy imports from Canada will have 10% duty, Mexican energy tariffs to be 25% • Tariffs mean higher costs for finished fuels like gasoline • US East Coast may have to turn to European fuel imports (Reuters) – U.S. consumers will see higher prices at the gas pump from President Donald Trump’s decision …
Pump Prices Set to Rise as Trump Tariffs Hit Closest Allies, Canadian, Mexican Oil Read More »
Power-Boosting Project for US Grid to Miss July Deadline
Summary • All 6 regional grid operators to miss July deadline to upgrade equipment • Delays could extend 1-2 years past deadline • Grid operators cite complexity of project, lack of software vendors (Reuters) – U.S. grid operators are asking regulators for more time to meet a federal order to upgrade existing transmission lines with …
Power-Boosting Project for US Grid to Miss July Deadline Read More »
Big Oil Bleak on Refining Profits Going into 2025
Summary • Oil executives offer little optimism that refining business will improve in 2025 • Exxon, Chevron Q4 profits hurt by weak refining sector • Independent refiners face challenges as fuel demand falters in US and China Big Oil executives this week saw little prospect of a near-term improvement in refinery profits after Chevron, Exxon …
Big Oil Bleak on Refining Profits Going into 2025 Read More »
E&Ps Pivot from the Pricey Permian
SM Energy, Ovintiv and Devon Energy were rumored to be hunting for Permian M&A—but they ultimately inked deals in cheaper basins. Experts say it’s a trend to watch as producers shrug high Permian prices for runway in the Williston, Eagle Ford, the Uinta and the Montney.
Explainer: Why Canadian Oil is So Important to the United States
Complementary production in Canada and the U.S. boosts energy security By Deborah Jaremko Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Enbridge’s Cheecham Terminal near Fort McMurray, Alberta is a key oil storage hub that moves light and heavy crude along the Enbridge network. Photo courtesy Enbridge The …
Explainer: Why Canadian Oil is So Important to the United States Read More »
Trump Says Tariff May Cause Short-Term Disruption
(Reuters) – U.S. President Donald Trump on Friday acknowledged that tariff costs are sometimes passed along to consumers, and said his plans to impose tariffs may cause a short-term disruption. But the Republican president told reporters in the Oval Office that he was not concerned about the reaction of financial markets to his plans to …
Trump Says Tariff May Cause Short-Term Disruption Read More »
Trump Says He Will Bring Tariffs Down to 10% on Canadian Oil
(Reuters) – U.S. President Donald Trump said on Friday that he will decrease threatened tariffs on Canadian oil to 10%. Trump said that tariffs on oil and gas are likely to take effect on Feb 18. Reporting by Trevor Hunnicutt and Jasper Ward; Editing by Caitlin Webber