U.S. Oil Likely in China’s Cross Hairs as Trade War Deepens
- Analysts, traders see China retaliatory levies on American oil
- Growing animosity disrupting a budding energy relationship
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China is expected to start avoiding U.S. crude oil imports as trade tensions ratchet up, according to traders and analysts, ensnaring a key commodity that has largely escaped the tit-for-tat trade war.
After tensions escalated over the past week, some Chinese buyers will likely begin reducing purchases of oil from the U.S. in anticipation that Beijing will impose tariffs, according to traders who supply American oil to China, asking not to be identified due to company policies.