Brazil’s Senate on Wednesday approved an Open Skies agreement between Brazil and the United States that clears the way for a partnership between American Airlines Group Inc and LATAM Airlines Group. The treaty will be sent to President Michel Temer, who is expected to sign it into law.
Some countries are now likely to be spared from planned tariffs on metals advocated by U.S. President Donald Trump. White House sources said Trump's controversial tariff plan could be put into action at a signing ceremony on Thursday afternoon.
United States-based oil giant ExxonMobil says the latest oil discovery in Guyana will help bring production to more than 500,000 barrels per day. In a statement, the oil company said that it was satisfied with the discovery in the Pacora Well that was safely drilled to a depth of 18,363 feet in 6,781 feet of water. It said drilling began on January 29 this year.
United States shale oil output is set to surge over the next five years as drillers recover rapidly from a three-year slump, the International Energy Agency said, sharply upgrading its previous growth forecasts. A landmark deal in 2017 between OPEC and other oil producers including Russia to curb output in order to battle a global glut materially improved the outlook for other producers as oil prices rose sharply throughout the year, the IEA said.
Motorbikes, whiskey and T-shirts are among the US goods that could be hit by EU taxes if the US imposes import tariffs on steel and aluminum. The EU has drawn up a target list of 100 US goods worth €2.8bn (US$3.5bn), the BBC understands.
Top economic adviser Gary Cohn is leaving the White House after breaking with President Donald Trump on trade policy, the latest in a string of high-level departures from the West Wing.
U.S. President Donald Trump said on Monday the U.S. is not backing down on its decision to impose 25% tariffs on steel imports and 10% tariffs on imported aluminum products. Before a White House meeting with Israeli Prime Minister Benjamin Netanyahu, Trump suggested Mexico and Canada could be exempted from the planned tariffs if a new and “fair” North American Free Trade Agreement (NAFTA) is reached.
After a lengthy debate, Washington State Legislature has passed a bill phasing out Atlantic salmon net-pen farming ban in the state waters. The approved bill would end state leases and permits for operations that grow nonnative finfish in state waters when current leases expire in 2022.
Oil prices rose early on Monday ahead of a meeting between OPEC and U.S. shale firms in Houston, raising expectations that oil producers would discuss further how to clear a global oil glut. Oil ministers from the Organization of the Petroleum Exporting Countries (OPEC) and other global oil players are set to gather in Houston as CERAWeek, the largest energy industry conference, begins on Monday.
The U.S. is one of the few areas of the world in which there is an energy investment boom underway, a development that could smooth out the uncertainties of geopolitical events around the world. At the same time, outside of the U.S., there is a deterioration of stability in many oil-producing regions, aggravating risks for both oil companies and the oil market, according to a new report.