China Still Reluctant To Buy U.S. Crude Oil

The end of the truce in the U.S.-China trade war and the highly unpredictable nature of the next moves in the trade spat have made traders in China even more reluctant to buy U.S. crude oil despite its favorable economics, Chinese traders have told S&P Global Platts. Chinese refiners and traders have been staying away from U.S.-origin crude cargoes for months amid the trade war, despite the fact that China doesn’t have tariffs imposed on U.S. oil. The escalation of the trade war at the beginning of this month, when U.S. President Donald…