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KIPCO Asset Management Company K.S.C- Wednesday, May 15, 2019

A threat of tightening oil supplies led by geopolitical issues in the Gulf pushed oil prices up this week after seeing consecutive declines over the past two weeks. In addition, the hunt for replacement crude by oil importers as a result of sanctions on Iran without waivers and on Venezuela also supported spot oil prices for some specific crude grades from producers in the Gulf and Africa. On the other hand, the trade war between the US and China was renewed after apparently failed talks between the two trading partners. The US increased tariffs on USD 200 Bn worth of Chinese imports from 10% to 25% and is said to be mulling tariffs on all imports from China. This was met by retaliatory tariffs from China on USD 60 Bn worth of goods imported from the US starting June-19, although China has excluded crude imports from the US from the higher tariffs while increasing it on LNG imports.

Country : Kuwait Report Type : Monthly Report Date : Wednesday, May 15, 2019 Provided by : KIPCO Asset Management Company K.S.C Report Size : 721 View research

Country :

Kuwait

Report Type :

Monthly

Report Date :

Wednesday, May 15, 2019

Provided by :

KIPCO Asset Management Company K.S.C

Report Size :

721

View research

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