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Barrels of Iranian oil are offloaded in Chinese ports for storage. Thus, the biggest oil customer now got a hoard of oil near its boundaries. In April, the White House banned the Iranian oil, so the nation’s crude is being sent to China. There it is being put into the “bonded storage”. Some analysts suppose the store of oil in China may lead to the global price reducing. The Organization of Petroleum Exporting Countries try to curb oil production as the global growth slows. Nowadays the shipments of Iranian oil have been flowing into China’s ports for about seven months. In China it is considered that oil storage on the border does not break the US sanctions on the country.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
Oil prices climbed on Wednesday after U.S. crude inventories fell against analysts’ expectations, prompting a boost in the market amid the coronavirus resurgence. Brent crude futures gained 0.3%, or 14 cents, at $43.36 per barrel. U.S. ...
Oil prices gained for the third day on Tuesday, supported by a bounce in demand from efforts to lift the U.S. economy as it struggles to recover from the coronavirus pandemic. Prices were also buoyed by a weakening dollar, making it ...
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