China thirsty for US crude oil right after record refinery action

China refineries processed a history sum of crude oil previous thirty day period, and now they are hunting to the U.S. to find crude.

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OIL BARCLAYS Lender PLC IPATH ETN (18/04/41) CRUDE 12.58 -.18 -1.45%

China is searching to book oil tankers for August and September to ship at least 20 million barrels of U.S. crude, according to Reuters. The shift comes as there is growing strain on the Chinese to fulfill their commitments to

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Crude oil: Commodity outlook: Crude oil slips; here’s how others may fare

NEW DELHI: Gold and silver slipped in Wednesday’s trade along with crude oil amid uncertainty on US stimulus and prevailing tensions between US and China. Base metals were trading with gains.

Gold fell 0.93 per cent while silver dropped 2.37 per cent. Base metals gained with zinc rising the most at 0.8 per cent. Meanwhile, crude oil slipped 0.31 per cent but its peer natural gas was up 0.89 per cent.

“A weak US currency and expectations of more economic easing measures amid slow global growth continue to lift the safe haven demand of gold. However, intermittent profit booking cannot

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United States Oil Fund will get Wells recognize from SEC – Agricultural Commodities

Aug 19 (Reuters) – The United States Oil Fund LP, the country’s major crude trade-traded fund, explained on Wednesday it gained a Wells notice from the U.S. Securities and Exchange Fee.

The Wells see states that SEC employees have designed a preliminary determination to suggest that the U.S. securities regulator file an enforcement action against USO, United States Commodity Fund LLC and its main executive officer John Like.

The recognize relates to USO’s disclosures in late April and early Might on the constraints imposed on USO’s ability to commit in oil futures contracts, the fund reported in a regulatory submitting.

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