China Goes from Driver to Brake for Crude Oil, Iron Ore and Copper
China has switched from driving global demand for major commodities to being a drag on growth, with July's customs data confirming the weakening trend for imports of crude oil, iron ore and copper.The exception to the trend was coal, but the sharp gain in July's imports of the polluting fuel are more a result of China having to go the seaborne market because of domestic policies that curbed local output.China…
Oil Slides 4% on China Virus Curbs, Climate Warning
Oil prices fell by 4% on Monday, extending last week's steep losses on the back of a rising U.S. dollar and concerns that new coronavirus-related restrictions in Asia, especially China, could slow a global recovery in fuel demand.A United Nations panel's dire warning on climate change also added to the gloomy mood after fires in Greece have razed homes and forests and parts of Europe suffered deadly floods last month.Brent crude futures fell by $2.82…
Haifa Port Sale Expected to Fetch $600m or More, Bidders Line Up
Four investment groups are looking to acquire the Israeli port of Haifa estimated to be valued as high as $600 million with formal bids expected towards October, sources with knowledge of the matter said.Israel is selling its state-owned ports and building new private docks in an effort to encourage competition and bring down costs. At the same time, warming ties with neighboring Arab countries are…
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