Thoughts on China Reciprocal Tariffs on US Energy
China imposed a 15% tax on coal and liquefied natural gas and a 10% tax on crude oil as a retaliation to Trump's tariffs
On crude oil: I expect a muted impact on US crude prices as China’s imports of oil has plunged over the last year 46% due to less demand (higher EV usage, weaker manufacturing-China demand from all countries slipped 7.2%) and other BIG reason is that they are getting cheaper barrels from Russia and Iran. China oil imports from the US are around 26.6K bp…