Market reacts to weak Chinese manufacturing and the threat of tariffs
January 28, 2025
Energy prices were down yesterday on weak economic manufacturing data from China. The ongoing threat of tariffs from President Trump also keeps the market uneasy. China is saying that several of its independent refineries are shutting down for an uncertain amount of time as the economics are not favorable currently, with higher crude prices as a result of tighter sanctions.
Libya is in the news with oil disruptions this morning, and that is offering a bit of support. These disruptions are the result of the ongoing civil unrest in Libya.
As has been the case, the market reacts to news headlines. There are currently a lot of questions and uncertainty, and the market reacts up or down depending on the news.