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Simmering Trump Trade War Still Hurting WA Shipping, Tourism

Oil prices declined on June 10 following the announcement of a trade framework aimed at reducing export restrictions, resulting from negotiations between American and Chinese representatives in London.
This change occurred alongside a 3% decrease in China's oil imports in May and a nearly 13% reduction in oil product imports, indicating weak demand.
The US saw a reduction of 4.3 million barrels in its crude stockpiles for the week concluding May 30, according to data from the Energy Information Administration, signaling robust industrial demand despite planned increases in OPEC+ oil production.
Brent crude futures slipped by 0.36%, settling near $66.63 a barrel, while West Texas Intermediate edged down 0.32% to around $64.77. Analyst Tony Sycamore highlighted that the agreement helps reduce some downside economic risks for both the US and China.
The oil market remains cautious as it awaits confirmation of the trade agreement and monitors OPEC+ production discipline, while current supply-demand dynamics constrain further price gains.

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The Columbian

Center

Simmering Trump trade war still hurting WA shipping, tourism

If U.S. trade policy seems to shift by the week, the economic costs for trade-dependent states like Washington are steadily piling up. Read more...

3 days ago·Vancouver, United States

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RTÉ

Center

Trump trade war - tariff deadlines & key upcoming events

The twists and turns in US President Donald Trump's tariff policies have not only rattled global financial markets but have also taken investors on a roller-coaster ride.

3 days ago·Ireland

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Anadolu Ajansı

Right

Oil prices drop amid rising US inventory, uncertainty over Trump's energy policies

American Petroleum Institute (API) data show rise of 1 million barrels, contrary to market expectations of 2.6 million barrel decline - Anadolu Agency

4 days ago·Ankara, Türkiye

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Investing.com

Center

Oil prices tick down from 7-wk high as markets weigh US-China trade ...

4 days ago

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censor.net

Lean Left

Oil Prices Fall Due to Weak Demand From China and Rising OPEC+ Production

Oil prices fell on June 11 in Asian trading as the market assessed the results of trade talks between the United States and China. However, weak oil demand from China and rising OPEC+ production have affected quotes.

4 days ago

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The Rio Times

Lean Right

Oil Prices Slip as Market Digests Trade Talks and OPEC+ Output

Oil prices eased in the last 24 hours as traders weighed the outcome of US-China trade negotiations and the impact of rising OPEC+ supply. Official data shows Brent crude futures fell 0.36% to $66.63 per barrel, while West Texas Intermediate (WTI) dropped 0.32% to $64.77 in early Wednesday trading. The latest market moves come after […]

4 days ago·Brazil

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