Oil

In the latest round of levies. China said it would impose additional tariffs of 25 percent on $16 billion worth of U.S. imports.

In the short term. supply is not seriously impacted. given that Saudi Arabia. Russia ramped up their oil production.

The United States hasn'.t been able to persuade China—Iran’s biggest oil customer—to reduce Iranian oil purchases.

A rise in crude prices triggered by supply uncertainties could dampen demand for oil.

The two leading non-OECD oil markets. China and India. both remain on course to grow solidly this year.

As the row deepens. oil was bound to become the center of attention. albeit briefly.

U.S. sanctions on Iran could push oil prices up to $90 per barrel later this year.

Iraq has no option to export Kirkuk crude from the north of the country due to a political dispute with KRG.

Russia exports up to 500.000 b d of oil. products to the U.S.

Many countries. including US allies in Europe as well as China and India oppose the introduction of new sanctions.