Discover how the U.S.-Japan trade deal and geopolitical factors are influencing oil prices, with Brent crude and WTI futures showing gains amid changing market dynamics.

Oil prices surged due to Trump's skepticism about Iran negotiations and optimism for a China trade deal, supported by lower US inflation and positive market sentiment.

Oil prices fall for a third session as US-EU trade talks heat up, with Brent crude trading below $69 a barrel amid looming tariff threats.

In Saudi Arabia, the real oil gross domestic product growth (GDP) decreased in the first quarter of 2019 to reach one percent, and negative three percent in the second quarter. The decline was due to the lowered production following the OPEC+ agreement and the reduction in world oil prices. Also, the trade war decreased the global oil demand and increased the volatility of its price.

Crude oil and gasoline prices are experiencing mixed trends due to factors like the strong U.S. dollar, U.S.-Japan trade agreements, and changes in global oil production.

What are the determinants of tourism when treated as exports in national accounts? Is tourism sensitive to value-added taxation, Internet access, oil, English, Christianity, and regional trade agreements? Impact of these factors on tourism are tested, as well as the potential effects of Hofstede’s cultural dimensions; these are Hofstede’s cultural dimensions of uncertainty, individualism, power distance, masculinity, and orientation. The relationship between variables in the time period of 2003–2016 is analysed in the current research. The research shows estimate for tourism in logarithms to capture the marginal effects of various factors on tourism. The current research also obtains and tests international values for these factors empirically. The research seeks to answer if these factors affect the willingness of foreign tourists to visit.

Despite Canada being one of the world's largest producers of crude oil, natural gas and a range of other metals and mineral commodities, price fluctuations and volatility throughout the period ultimately pushed revenue down for mining, oil & gas machinery manufacturers. Revenue is closely tied to commodity prices and dictates the level of investment and activity by extraction companies. These prices have fluctuated greatly over time, especially with many goods seeing a sharp dip in price during lockdowns, which significantly hindered the need for machinery. Even an economic recovery later in the period was not enough to salvage revenue. Overall, industry-wide revenue is set to decline at a CAGR of 1.5% to $4.7 billion through 2024, including a 3.8% downturn in 2024 alone as prices on some commodities push down. Profit also dipped slightly amid volatility. The appreciation of the Canadian dollar also contributed to setbacks for domestic manufacturers. They faced increased competition from both low-cost and premium imports as it became easier to purchase foreign goods. This appreciation also made domestic goods more expensive in foreign countries, deterring an additional stream of revenue. Even so, trade with the US remained crucial because of its proximity and free-trade agreement, which helped cut expenses. Mining, oil and gas machinery manufacturers will continue to exhibit dips as domestic oil and gas production show modest declines through 2029. The declines in commodity prices will force many new projects in oil sand regions to be put on hold since they won't be as profitable. While some mineral prices are set to increase, it won't be enough for manufacturers to salvage revenue as the majority of sales come from the oil and gas sector. Many smaller companies will be forced to consolidate or exit the industry altogether as they won't be able to keep up with price shifts. Revenue is set to decline at a CAGR of 3.1% to $4.0 billion through the end of 2029.

The export trade of the European Union experienced some notable shifts over the two decades since 2002, with China emerging as a significant export market and the United Kingdom losing its place as the EU's single largest export partner. The United Kingdom's declining share of EU exports The UK, which was a member of the European Union until 2020, declined in its importance as an export market for EU producers over this period. Representing over a fifth of the export trade in 2002, the UK now takes only 13 percent of EU exports, and looks likely to be eclipsed by China's growing share in the coming years. The complications to EU-UK trade caused by the UK's exit agreement with the EU is also likely to contribute to slowing trade flows between the two partners. China's emergence as a key export market As with most other areas of the global economy, the past two decades has largely been the story of China's emergence as a key trading partner. China's share of EU exports was comparable to Japan or Norway at the beginning of the period, while it now represents the EU's third largest export market. While this is a significant change, China takes up a much larger share of imports into the EU, where it is the largest single trading partner. As Chinese incomes rise in the coming decades, the significance of China as an export market for EU producers is likely to rise, geopolitical tension notwithstanding. The Euro and exports to the U.S. The EU's export trade with the United States over this period experienced a relative decline in the period running up to 2014, as the Euro appreciated in its value against the U.S. dollar, making European exports more expensive for Americans. This declining share of the EU's export trade taken by the U.S. was reversed in the latter half of the 2010s however, as the Euro depreciated and European exports to the U.S. increased. Issues with Russia Another notable trend over the period was Russia's emergence as a key export market in the mid-2000s, as the Russian economy grew quickly and Russian consumers began to demand EU made products. Russia declined as a market for EU exports after 2014, as trade was complicated by Russia's illegal annexation of Crimea from Ukraine, and the subsequent devaluation of the Ruble and collapse in the price of Ural crude oil.

An oil futures contract is a legally binding agreement between a buyer and a seller to trade a certain quantity of oil at a predetermined price and at a specific future date. Futures contracts are standardized agreements traded on regulated exchanges, such as the New York Mercantile Exchange (NYMEX) and the Intercontinental Exchange (ICE). This article explains the purpose and key components of oil futures contracts, as well as the participants and settlement methods. It also discusses the factors that infl