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US blacklists Chinese, South African companies for Iran oil trade

According to Reuters, the US Department of State identified seven companies that has blacklisted, due to their involvement in Iranian petrochemincals’ transport, marketing and sale. In fact, three of the seven companies are Chinese-based, while another three are in Hong Kong and one in South Africa.

Oil prices drop in fear of new tariffs on Chinese goods

Oil prices dropped an almost 1% on Wednesday, following a surprise build in the U.S. crude inventories led by  a concern within the trading and analytical communities that a new round of tariffs on Chinese goods might be imposed in the following days.

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