End Date: Tuesday Apr-28-2020 12:27:56 BST
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Some of the world’s major oil traders are looking to take advantage of the abnormally low oil prices, Reuters reported on Friday, citing shipping sources, as WTI falls below $22 per barrel, and Brent sinks to sub $28 per barrel. Traders—of which Vitol is one—have booked at least five very large crude carriers (VLCCs) over the past day, in order to store ...
This article first appeared on Transport TopicsPresident Donald Trump on March 27 ordered General Motors Co. to make ventilators for coronavirus patients, invoking a federal law that gives him vast powers over industry in crises and acting as the company is within weeks of starting production on the equipment.
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The President of the United States has the power, at his sole discretion without any other authority, to place a fee on imported oil or products. It becomes variable when a base price (floor price) is set and a fee is paid on any imports where the price on imports is below the base price. If the base price for ...