Chinese Oil Buyers Shun U.S. Crude

Chinese oil traders and refiners no longer want to sign long-term supply agreements with U.S. producers, said the chief executive of Enterprise Products Partners as quoted by Reuters, amid the deepening trade rout between Washington and Beijing. The latest escalation in the rout followed president Trump’s complaint that the trade talks with China were going too slowly and his threat—that he went through with—to increase tariffs from 10 percent to 25 percent on US$200 billion worth of Chinese goods. The retaliatory move came promptly,…