Chair of the European Parliament’s Committee on International Trade Bernd Lange told the Financial Times in an interview posted on Friday that the European Union is ready to offer to cut tariffs on cars coming from the United States in an effort to avoid a trade war with US President Donald Trump. “We can try to …
United States President Donald Trump has signed an executive order imposing sanctions on the International Criminal Court (ICC) due to the organization having engaged in “illegitimate and baseless actions targeting America and our close ally Israel.” Trump alleged in the order that the ICC “abused” its power by issuing “baseless” arrest warrants against Israeli Prime Minister …
Crude oil prices declined on Thursday and hit their lowest level since December last year after United States President Donald Trump stated that his administration intended to reduce oil prices. Also, the latest US crude inventories report showed that crude oil stockpiles in the country rose by 8.7 million barrels. West Texas Intermediate (WTI) for deliveries in March dropped …
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United States President Donald Trump insisted on Thursday, appearing at the National Prayer Breakfast for the second time today, that his administration will drive the price of oil down, after which “everything will follow.” “We gotta bring the country back,” he underlined. Continuing his speech, Trump said that he had “great elections.” “We’ve won all …
Iran’s President Masoud Pezeshkian has urged OPEC members to unite against possible U.S. sanctions after U.S. President Donald Trump said he will drive Tehran’s oil exports to zero. Iranian crude oil exports currently stand at ~1.5 million barrels per day, with the majority going to China. Back in July, Trump promised in his Republican National Convention speech to reduce …
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US President Donald Trump took to Truth Social on Thursday to say that the Gaza Strip would be “turned over” to the US by Israel after the war in the enclave ends. “The Palestinians, people like Chuck Schumer, would have already been resettled in far safer and more beautiful communities, with new and modern homes, …
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Weekly Petroleum Data for the week ending January 31, 2025 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 8.7 million barrels from the previous week. At 423.8 million barrels, U.S. crude oil inventories are about 5% below the five year average for this time of year. U.S. crude …
United States President Donald Trump said on Wednesday that reports on his country and Israel wanting to “blow Iran into smithereens” are “greatly exaggerated,” noting that he would prefer to sign a Verified Nuclear Peace Agreement with the Middle Eastern country. “I want Iran to be a great and successful Country, but one that cannot …
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Crude oil inventories in the United States rose by 5.02 million barrels in the week ending January 31, the American Petroleum Institute’s (API) private data reportedly showed on Tuesday. Distillate inventories allegedly dropped by 6.98 million barrels, while gasoline stockpiles increased by 5.43 million barrels during the reported week. In the same period, reserves in …
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Oil prices took a sharp turn today as traders weighed President Trump’s latest “maximum pressure” push against Iran. Brent crude rose to $76.34 per barrel (+0.50%), while WTI’s loss from early in the day shrunk to just a 0.31% dropoff at $72.93 per barrel. While a quick glance at today’s oil prices could suggest traders …
Continue reading “Oil Prices Jump on Trump’s Iran Crackdown”