Markets brace for China-US trade war; US says Saudi Arabia agrees to oil output hike

Описание: This week, market participants will be looking for signals and price moves should the US decide to impose tariffs on about $34 billion worth of Chinese imports. Markets will also be looking out for any potential retaliatory move from China.

In oil, US President Donald Trump says Saudi Arabia has agreed to increase oil production by up to 2 million b/d to moderate high prices. Meanwhile, Middle East crude producers could raise Official Selling Prices for heavier grades in the coming days, as fuel oil cracks have been strong.

This episode also includes updates on the ongoing biodiesel shipments from Indonesia to China, the absence of a reference price for term contracts for Japanese thermal coal customers, and the rising primary premiums for aluminim delivered to Japan.

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