The tit-for-tat tariff dispute between the U.S. and China has already sent
, in large part because of worries about a severe global economic slowdown and potentially even a U.S. recession.raised the stakes in his administration's protracted dispute with Beijing last week, threatening to impose new charges against the country from September 1. The U.S. has since accused China of being a currency manipulator, as the yuan sank to levels against the dollar not seen in more than a decade."I think it is a virtual shoo-in that volumes will slow to a trickle and may even grind to a complete halt," Stephen Brennock, oil analyst at PVM Oil Associates, told CNBC via email.
Chinese buyers recently rekindled their interest in U.S. crude, as imports climbed to a nine-month high of 247,000 barrels per day in May, according to figures from the Energy Information Administration ."The outlook for China-bound U.S. crude shipment is firmly skewed to the downside," he added.China, the world's largest oil buyer, was one of the leading destinations of U.S.
However, Beijing's U.S. crude imports plummeted almost immediately after the trade war talk started, with flows completely drying up at the turn of the year as the situation deteriorated.
Last I checked, oil is fungible.
BLAME IT ON POTUS
Definitely, decoupling means everything.
Crazy conduct All party's involved Read this carefully
Goods ranked in the trade war. Similar to use missiles, tanks, guns.
tRump the deal maker. What a fuckin joke. Destroyed our farmers, hasn`t any money to bail them out now. More tariffs on us to pay for. Now oil. China is out of the real estate game to in America. Guess his aids didn`t see none of this coming. Remember only a penny more can soup