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Trump's recent trade war moves sends oil refueling



Oil prices fell again Monday on diminishing hopes of a breakthrough in the US-China trade war.

Late last week, the Bloomberg reported that the Trump administration was considering more extreme measures targeting China, including setting limits on US investment in China, delisting some Chinese companies from US exchanges, as well as appreciating the value of Chinese companies that managed index funds may hold in the United States

No decision has been made, but Bloomberg reported that President Trump gave his advisors a clear signal to explore some potential moves. Some "hawks" in China have described the plans as a possible "economic relaxation" of US and Chinese economies.

In response to that press release, the Trump administration gave only a partial and qualified refusal, according to Bloomberg. "The administration is not considering blocking Chinese companies from listing stocks on US stock exchanges at this time," Treasury spokeswoman Monica Crowley told Bloomberg, without addressing any of the other ideas allegedly being promoted.

But Trump's top trade adviser Peter Navarro seemed to suggest that the administration was considering these particular traits, while at the same time calling the reports "fake news."

"There are some important issues related to Chinese stocks listed on stock exchanges," he said on CNBC. "There are some interesting and significant openness issues with Chinese stocks, but that's all I have to say, I'm not going to talk about what's happening behind closed doors." Related: China's Renewable Boom Hits The Wall

The exact policy under consideration is not the main point. Rather, rather to turn to restrictions in investment flows and other criminal measures, another escalation in the trade war. It would severely undermine the slim benevolence that has been built over the last few weeks between the two countries, and it would make a breakthrough in the trade talks infinitely more difficult.

Of course, it is possible that the Trump administration is considering these maneuvers as a setback if the trade talks ̵

1; scheduled to start on October 10 and 11 – resume. It is also possible that the administration is signaling its intention to escalate as a way of exerting influence, pushing Beijing to cut a deal by suggesting that painful reprisals are on the drawing board if China does not give in.

Regardless, the markets interpreted the report as very negative for crude oil as it suggested reduced odds of a trade breakthrough.

China, for its part, warned Monday against any "link" of the world's two largest economies. Related: US Oil & Gas Reich's Fall For Sixth Straight Week

Meanwhile, Saudi Crown Prince Mohammed bin Salman gave an interview to CBS & # 39; 60 Minutes over the weekend where he said that a hot war would result in an increase in oil prices, which would reduce the entire world economy. He was adamant that the world needs to deter Iran, but he said he would prefer a political solution to the dispute over a military one.

"MBS comments help alleviate immediate concerns about escalation in the Middle East and leave the market to return the focus to the economy," BNP Paribas & # 39; global oil strategist Harry Tchilinguirian told Reuters Global Oil Forum. [19659002] Saudi oil production went back to 9.9 million barrels per day (mb / d) last week, according to Aramco. "On the 25th of yes, we reached that target of production," said Ibrahim Al-Buainain, CEO state-owned Saudi company. "We produce depending on market and depending on capacity, so in fact we are slightly higher than this."

The Abqaiq attack is anything but forgotten by oil traders. Instead, the focus has been shifted back to the US-China "Speculative financial investors (further) reduced their net long positions in Brent and WTI in the last reporting week, thereby contributing to the fall in oil prices," Commerzbank wrote in a note on Monday.

By Nick Cunningham fr a Oilprice.com

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